On Tuesday, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 0.04% to $68.04.
JPMorgan Chase & Co., released its latest Retirement Insights paper outlining best practices for selecting a target date strategy for defined contribution plans (DC). The white paper, “Custom or off-the-shelf target date strategies?,” explores several factors – such as asset allocation, administration selection and fee structure – that DC plan sponsors and financial advisors should carefully consider when deciding whether a custom or “off-the-shelf” target date strategy is most appropriate for their plan. Key findings comprise:
- Choosing between custom or off-the-shelf target date strategies requires extensive analysis. Plan sponsors and financial advisors need to balance the benefits that custom strategies might offer with the required expertise, time and costs, which can be significant.
- Custom target date strategies can be precisely designed to meet specific plan requirements. These strategies can take into account employee demographics and particular plan design features (for example, a prohibition against plan loans or pre-retirement withdrawals).
- In a custom strategy, a plan sponsor can consolidate investment managers from defined benefit plans to potentially achieve economies of scale and realize savings on overall fees. But a substantial asset base (greater than $500 million) may be needed to secure those savings. Smaller plans will likely be better served by an off-the-shelf target date strategy.
- Effective communications are critical when implementing a custom strategy. While participants in an off-the-shelf target date strategy can access relevant information about their strategy’s funds on fund company websites, participants in a custom strategy may have only one source of information about their retirement funds: the communications they receive from their plan sponsor.
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of Goodyear Tire & Rubber Co (NASDAQ:GT), inclined 1.93% to $29.58, during its last trading session.
Goodyear Tire & Rubber Company, declared a quarterly dividend of 6 cents per share of common stock. The dividend is payable September 1, 2015, to shareholders of record on July 31, 2015. The payout represents an annual rate of 24 cents per share.
Goodyear is one of the world’s largest tire companies. It employs about 67,000 people and manufactures its products in 50 facilities in 22 countries around the world.
The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires, and related products and services in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific.
Finally, Voya Financial Inc (NYSE:VOYA), ended its last trade with 0.58% gain, and closed at $46.48.
Voya Financial, declared that many of its retirement plan customers will soon be able to enroll in their employer-sponsored plan in a more meaningful way. As a result of enhancements to the company’s suite of digital retirement readiness capabilities, participants in many of Voya-administered plans will be able to visualize and understand — as soon as they enroll online in the plan — how their savings decisions translate into future monthly retirement income. Innovative features that leverage Voya’s award-winning1myOrangeMoney participant website platform will allow enrollees to optimize their employer’s company match and also benchmark themselves to peers who are saving for a secure retirement. In addition, existing participants will benefit from new functionality that lets them factor Social Security and healthcare costs into their retirement planning decisions.
“Voya Financial is committed to assisting Americans plan, invest and protect their savings so they can get ready to retire better, and this comprises the critical point at which they first enroll in their workplace savings plan,” said Charlie Nelson, CEO of Retirement at Voya Financial. “Participants must make a number of key decisions when they join a plan — such as how much to contribute each pay period and what they need to save to meet their future monthly income aims in retirement. In order to make plan enrollment a more informed and effortless process, we’ve revolutionized the experience by connecting enrollment to the broader concept of retirement income aims. We’ve also added in unique features that let customers easily see and elect a contribution rate that gets them to their full company match, or which aligns to their peers who are potentially on track for a secure retirement.”
Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Administration, Individual Life, and Employee Benefits.
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