An Educational Tool to Help 401(k) Participants Make Better Decisions
First Eagle Investments and the Center for Retirement Research at Boston College (CRR) have developed a prototype for an educational tool to make it easier for 401(k) participants to make better decisions about work, saving, and investing. These decisions include how long to work, how much to contribute, and how to allocate assets. A key feature of the tool is its flexibility, as it can be adapted to the needs of any client and can fit on any 401(k) participant platform. Another unique aspect of this initiative is that the CRR will conduct research on participant usage to determine how to continuously improve the tool.
The First Eagle-CRR team is actively seeking clients who are interested in using the tool and is prepared to tailor the tool as needed to make it fully operational for use with 401(k) participants. Once the tool is in operation with clients, the next step will be gathering user data to conduct research on what communication strategies work best, using this information to validate the essential utility of the tool and to refine it to ensure continuous improvement in its capabilities and effectiveness.
If you represent a firm that might be interested in offering this tool to your 401(k) participants, please contact firstname.lastname@example.org.