American Express Retirement Services Launches Online Retirement Tool; New Tool Guides Participants in Making Allocation Decisions

Apr 24, 2001, 01:00 ET from American Express Retirement Services

    MINNEAPOLIS, April 24 /PRNewswire Interactive News Release/ -- American
 Express Retirement Services has launched the Retirement Guidance Planner, an
 online tool to give participants in qualified retirement plans information and
 guidance on achieving financial wellness, in the "Workplace Retirement
 Account" section of its Web site
 ( http://www.americanexpress.com/retirement ).
     The Retirement Guidance Planner, pre-populated with each plan's unique
 investment option data, allows participants to view and change all of the
 assumptions critical to making educated decisions regarding their individual
 retirement income needs within the provisions of their plan.  The tool
 automatically calculates and graphically illustrates their retirement income
 goals and whether or not they are on track.  Users can quickly and easily
 manipulate the factors influencing their goal achievement and visually see the
 results.  The tool also facilitates the participant's asset allocation
 decision.
     "We developed the Retirement Guidance Planner to help participants make
 relevant and realistic decisions about their finances when, where and how they
 choose," said Lisa Hoene, vice president of workplace financial services for
 American Express Retirement Services.  "The Planner shows the roles that the
 participant's 401(k), personal savings and Social Security play in helping
 them reach their retirement income goals and helps them to keep on track for
 retirement."
     Within the Retirement Guidance Planner, participants are able to access
 American Express' Retirement Income Calculator, which helps them to:
     -- Assess their current savings strategy and assumptions to see if they
         are on track to meet their retirement goals.
     -- Understand how rate of return and age at retirement can affect their
         savings.
     -- Determine different savings strategies in order to meet their goals.
     -- Develop a different income strategy based on the calculator results.
 
     The Retirement Guidance Planner also saves data input by the participant
 for future planning sessions.  Plan sponsors can add the Retirement Guidance
 Planner to their existing set of services as an additional tool to help
 educate participants on goal setting and asset allocation.  Cost for the
 service is based on the number of participants and plan complexity.
     In addition to the online Retirement Guidance Planner, American Express
 offers participants the opportunity to discuss their individual situation with
 a NASD Series 7-licensed American Express Retirement Specialist over the
 phone.  The retirement specialist will consult with participants to help them
 establish a retirement goal and a deferral rate as well as saving and
 investment strategies to help meet identified goals.
     American Express Retirement Services, in conjunction with American Express
 Trust Company, provides services for defined contribution and 401(k) plans
 with total combined assets of $32.7 billion and a participant base of more
 than 1.2 million.  Based in Minneapolis, they provide corporations and
 municipalities nationwide with a complete package of employee education,
 recordkeeping and trustee services for qualified retirement plans.  For more
 information on American Express Retirement Services, visit
 http://www.americanexpress.com/retirement
 
     A division of American Express Financial Advisors Inc.  Member NASD and
 SIPC.  American Express Company is separate from American Express Financial
 Advisors Inc. and is not a broker-dealer.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X21468419
 
 

SOURCE American Express Retirement Services
    MINNEAPOLIS, April 24 /PRNewswire Interactive News Release/ -- American
 Express Retirement Services has launched the Retirement Guidance Planner, an
 online tool to give participants in qualified retirement plans information and
 guidance on achieving financial wellness, in the "Workplace Retirement
 Account" section of its Web site
 ( http://www.americanexpress.com/retirement ).
     The Retirement Guidance Planner, pre-populated with each plan's unique
 investment option data, allows participants to view and change all of the
 assumptions critical to making educated decisions regarding their individual
 retirement income needs within the provisions of their plan.  The tool
 automatically calculates and graphically illustrates their retirement income
 goals and whether or not they are on track.  Users can quickly and easily
 manipulate the factors influencing their goal achievement and visually see the
 results.  The tool also facilitates the participant's asset allocation
 decision.
     "We developed the Retirement Guidance Planner to help participants make
 relevant and realistic decisions about their finances when, where and how they
 choose," said Lisa Hoene, vice president of workplace financial services for
 American Express Retirement Services.  "The Planner shows the roles that the
 participant's 401(k), personal savings and Social Security play in helping
 them reach their retirement income goals and helps them to keep on track for
 retirement."
     Within the Retirement Guidance Planner, participants are able to access
 American Express' Retirement Income Calculator, which helps them to:
     -- Assess their current savings strategy and assumptions to see if they
         are on track to meet their retirement goals.
     -- Understand how rate of return and age at retirement can affect their
         savings.
     -- Determine different savings strategies in order to meet their goals.
     -- Develop a different income strategy based on the calculator results.
 
     The Retirement Guidance Planner also saves data input by the participant
 for future planning sessions.  Plan sponsors can add the Retirement Guidance
 Planner to their existing set of services as an additional tool to help
 educate participants on goal setting and asset allocation.  Cost for the
 service is based on the number of participants and plan complexity.
     In addition to the online Retirement Guidance Planner, American Express
 offers participants the opportunity to discuss their individual situation with
 a NASD Series 7-licensed American Express Retirement Specialist over the
 phone.  The retirement specialist will consult with participants to help them
 establish a retirement goal and a deferral rate as well as saving and
 investment strategies to help meet identified goals.
     American Express Retirement Services, in conjunction with American Express
 Trust Company, provides services for defined contribution and 401(k) plans
 with total combined assets of $32.7 billion and a participant base of more
 than 1.2 million.  Based in Minneapolis, they provide corporations and
 municipalities nationwide with a complete package of employee education,
 recordkeeping and trustee services for qualified retirement plans.  For more
 information on American Express Retirement Services, visit
 http://www.americanexpress.com/retirement
 
     A division of American Express Financial Advisors Inc.  Member NASD and
 SIPC.  American Express Company is separate from American Express Financial
 Advisors Inc. and is not a broker-dealer.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X21468419
 
 SOURCE  American Express Retirement Services