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Adequacy (gap) Communications and Reports
Retirement
Income Adequacy (Gap)
Communications and Reports
Fact sheet available
Newkirk offers a comprehensive suite of income
replacement (gap) analyses and reports. With no
more data than a participant’s age, salary,
current balance, and deferral percentage, we can
provide gap analysis reports for plan sponsors
and individualized communications for participants.
Register for our free online demonstration to
learn more by
going to www.newkirk.com/gap.
Click here to read: Gaps
in Participant Gap Analyses by
Pete Newkirk.
SPARK Journal, January 2010. Reprinted
with permission from SPARK.
Our comprehensive suite of communications
and reports include:
Targeted Gap “Single”
A participant-specific communication
that provides recipients with an estimate
of their potential gaps in retirement
income. The only participant data required
(other than name and address) are salary,
current deferral percentage (or dollars),
current account balance, and birth date.
Users can specify the
replacement income percentage assumption
(e.g., 80%), investment rate of return,
years in retirement, and whether to include
the employer’s match.
Click
here to review
a sample cover of the Targeted Gap "Single"
Click
here to request information on
Newkirk's Targeted Gap “Single”
Click
here to view and print an order
form.
No
Gap "Single"
For those sponsors who want every plan
participant to receive some sort of gap
message. The No Gap Single, after complimenting
the participant on his/her successful
retirement planning, focuses on other
planning opportunities the participant
may want to consider.
Click
here to review
a sample cover of the No Gap "Single"
Click
here to request information on
Newkirk's No Gap "Single"
Click
here to view and print an order
form.
Gap/No
Gap Report
A
simple tool frequently used in conjunction
with the targeted communications. This
report simply indicates, on a participant-by-participant
basis, whether the participant has a
gap or not. The report allows a user
to predetermine the number of participants
who will be receiving the Targeted Gap
Single.
Click
here to review
a sample of the Gap/No Gap Report.
Click
here to request information on
Newkirk's Gap/No Gap Report
Click
here to view and print an order
form.
Basic Gap Report
Created
online, using the same information required
for the targeted gap communication. The
report displays such values as projected
balance at retirement (at current deferral
rates and, optionally, employer matching
contributions), income to be generated
from this balance, anticipated Social
Security benefit, the gap in income,
and the deferral percentage required
to close the gap.
The report can be created in a variety
of output formats — XLS, PDF, and
RTF. As a result, it can easily be incorporated
into other materials a user may be presenting
to a plan sponsor as part of a plan review.
Or an advisor can use the report to identify
participants who merit one-on-one consultation
(with the sponsor’s approval,
of course).
Click
here to review
a sample of the Basic Gap Report.
Click
here to request information on
Newkirk's Basic Gap Report
N1 Analytics
Coming
soon...
With N1 Analytics, users can view participant
replacement income preparedness by gender,
age, income, and tenure. Filters can
be applied to further refine the reports,
and the resulting graphs and data can
be downloaded as PDFs or as CSV (to be
uploaded into Excel).
Click
here to request information on
Newkirk's N1 Analytics
Year-end Participant
Security Report
Coming
soon...
The Year-end Participant Security Report
takes participant-specific gap analysis
further — much further. This 8-page,
full-color communication identifies retirement
income needs and sources, including spousal/partner
sources and other retirement plans (e.g.,
pension plans). It also analyzes participant
asset allocation and determines the probability
of the participant’s reaching his/her
retirement income goal based on that
allocation. The Security Report suggests
changes to not only deferral amounts
but also to asset allocations where a
shortfall in anticipated retirement income
is determined.
The Security Report uses the calculation
engines of GuidancePlus, the
online guidance and advice program
offered by MasteryPOINT, a Newkirk subsidiary.
The Security Report is a pro-active means
of providing specific guidance to plan
participants.
Click
here to request information on
Newkirk's Year-end Participant Security
Report
Extended Gap Management Report
Coming
soon...
Flesh out your annual (or quarterly)
management reports for plan sponsors
with demographic content from Newkirk.
Our MasteryPOINT subsidiary already offers
a robust investment monitoring capability.
Our Extended Gap Management Report provides
participant detail that enables sponsors
to assess their plan’s health.
Participation rates, average deferrals,
asset allocation, and — of course — participants
on track to have adequate replacement
income at retirement are all presented,
broken down by age and compensation levels.
The Extended Report features the same
design as MasteryPOINT’s Plan
Investment PLUS (PIP) monitoring
report and can be readily uploaded. Fee
disclosure and benchmarking will soon
complete our management reporting service.
Click
here to request information on
Newkirk's Extended Gap Management Report
Statement Messaging
Coming
soon...
Statements get read. As a result, they’re
an ideal mechanism for calling participant
attention to potential shortfalls in
their retirement incomes. NewkirkOne,
our flagship communication platform,
can provide participant gap messages
for incorporation into your statements
— even where we are not doing your statement
printing. A datafeed with the necessary
participant information is all it takes.
We can perform the necessary gap calculations
and incorporate them into a message of
your own design. We then pass those messages
to your printer for inclusion in your
statements.
Click
here to request information on
Newkirk's Statement Messaging
Register for our free online demonstration to learn
more by going to www.newkirk.com/gap.
Click
here to
request more information, or contact
us by phone
at 518-862-7258.
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