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Center for Retirement Research Partners With First Eagle Investment Management

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Boston College’s Center for Retirement Research (CRR) and First Eagle Investment Management have announced a multi-year partnership to develop insights and tools for retirement plan sponsors and financial advisors to help plan participants save for retirement.

Initially, CRR and First Eagle will collaborate on publishing a series of papers focused on the key challenges retirement savers face in the years before and during retirement, according to a First Eagle press release. Topics to be addressed will include how different workers save in their company-sponsored retirement plans, what affects spending in retirement and the impact of healthcare expenses for different segments of the retiree population.

(Related: Health Care Is Second Largest Retirement Expense, but Americans Aren’t Prepared: RBC)

Eventually the two organizations plan to develop a customized, interactive platform that plan sponsors, financial advisors and plan participants can use to establish goals and strategies to plan  for a secure retirement. The hope is that by using plan features and aggregated participant data the interactive platform — on plan sponsors’ websites — will help increase participation in retirement plans.

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“Lack of preparedness for a comfortable retirement, including the shortfall in adequate retirement savings, is one of our country’s biggest social problems.” said Mehdi Mahmud, CEO and president of First Eagle Investment Management in a statement. “Through our partnership with CRR, we hope to develop awareness, insights and solutions that can help sponsors and advisors, as well as policy makers, address the challenges retirement savers.”

(Related: Edelman, Policy Group Sound a Wake-Up Call on Retirement Security)

Alicia H. Munnell, the direction of CRR, said the “different, but complementary, perspectives [of the two organizations] will produce unique insights.”

CRR’s partnership with First Eagle, which has approximately $119 billion in AUM, is is not its first corporate tie-in, but it is a big larger than its standard partnership program, according to a spokeswoman. Other corporate partners include Blackstone, BlackRock, JPMorgan, Capital Group, parent company of American Funds, State Street, Prudential Financial and the TIAA Institute.