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September 30, 2015 at 10:55 AM
MassMutual and Envestnet Retirement Solutions LLC (ERS) have teamed up to provide managed accounts that allow participants in 401(k)s and similar retirement savings plans to access personalized, actively managed investment strategies within their plans.
With RetireSmart Ready Managed Path managed accounts, the participant’s retirement account is actively managed by ERS on an ongoing basis to make sure investments remain appropriate for the participant’s objectives.
The managed accounts, which are available to retirement plans with $5 million or more in retirement assets under management, are designed to help participants who need investment guidance but may not want to actively manage their retirement investments on their own.
The managed account investment strategies are built from investment options already available through a plan sponsor’s retirement savings plan.
Employers can use the managed accounts in two ways: as personalized investment strategies available for selection by participants, or as a qualified default investment alternative (QDIA) available in plans that automatically enroll employees or when participants otherwise fail to select investments.
Asset allocation strategies such as target-date funds are becoming increasingly popular as participants turn over management of their retirement assets to investment professionals.
