PAi unveils a new way for participants to relate to retirement planning

DE PERE, Wis., Jan. 12, 2021 /PRNewswire/ -- From the retirement planning skeptic to the high salaried saver, PAi's Retirement Planning People provide potential savings scenarios to represent all stages of life, helping plan participants envision their future in retirement. These saver personas and all relevant resources provide participants with a way to relate to or compare various savings scenarios with their own unique situation, starting with commonalities like career path, salary, current savings, and desired retirement age.

Pai.com/savers provides a place for advisors and plan sponsors to direct employees to learn more about preparing for retirement and how choices they make now can impact their future later.

From the younger plan participant who isn't sure where to start saving for retirement, to the newly eligible employee who needs help enrolling or understanding the benefits of saving in a 401(k), to the older saver who may need to start utilizing catch up contributions, PAi's new content strategy features these scenarios, and many more, to promote plan engagement and help participants relate to their own savings situation.

Skyla Loritz, Sr. Marketing & Communications Manager at PAi explained, "We know our customers have unique personalities and interests and are in different places on their savings journey. Because of diverse backgrounds and situations, varied messaging and customized alerts resonate on a deeper level, resulting in higher plan engagement. We are incorporating this new educational content into a personalized approach with our alerts system."

PAi's unique CoPilot recordkeeping features include tailored, event-based alerts and a Years of Retirement Calculator designed to show participants how many years they can afford to be retired, not just how many dollars they've saved. These CoPilot services have proven effective, as PAi has seen CoPilot plans having a higher average participation rate than plans without the CoPilot features.

"This is why we've extended our CoPilot services to all plans sold with PAi. With the market volatility and the uncertainty this last year has brought, the importance of being well-informed on how your actions may positively or negatively impact your retirement remains higher than ever. Providing CoPilot to all plan participants, along with additional resources like these personas, supports our vision of a world where workers own their retirement readiness," Amy Hermann, Director of Sales and Marketing at PAi, said.

While the personas are already available for access on pai.com, participants in CoPilot plans can expect to see these new tools featured in their plan alerts, updates, and resources in the coming months. The new education-focused communications format will include a prompt for account review, plan comparison, and related information available—all in line with increased plan contribution and participation rates for the year ahead. For more information on CoPilot service options, visit pai.com/copilot/features.

About PAi
Since 1983, PAi has helped people successfully save for retirement by changing retirement outcomes with participant-focused, easy-to-manage 401(k) retirement services. CoPilot's recordkeeping services feature Years of Retirement calculations, allowing savers to see exactly how many years their savings can buy, and an event-based alert system that keeps participants on track by sending updates along the way. See how CoPilot is changing the retirement conversation: pai.com.

SOURCE PAi Retirement Services

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https://pai.com