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Changes to the goals-based investing feature

  • Updated

Changes to the goals-based investing feature by Vestwell, in partnership with Franklin Templeton 

We recently updated the default assumptions for this feature, which may impact your investment allocation. Here’s what you need to know:

  1. Default salary information: If you or your employer has not input your current salary, the default assumption has been adjusted to align to the median income for full-time, year-round workers from the U.S. Census Bureau (currently $56,287 annually). This is the salary used to calculate your retirement income goal any time your investment allocation is updated and/or rebalanced. If you would like to update your salary information, please log in to your Portal and click on the Manage Investments link to complete the goals-based investing questionnaire. 
  2. Social security information: If you have not selected a specific age to begin Social Security benefits, your retirement account has been updated to assume that you will begin drawing full Social Security benefits starting at age 67. If you plan to begin Social Security benefits at a different age or would prefer to ignore Social Security benefits in your savings advice, you can update your settings by logging in to your Portal and clicking on the Manage Investments link to navigate to the goals-based investing.

Want to learn more about goals-based investing? Check out our other articles here:

You always control your investments, and you can continue to change your investments and/or review or change your future contributions you would like to allocate to each investment option at any time. Details about the investment options, including investment objective, risks of the investments available to you, and historical performance can be found in the Fund Fact Sheets available in your portal. 

 

If you have any questions about these changes, please contact everyday401k.help@vestwell.com

 

Important Information:  All investments have risk. There is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and there is no guarantee of value at any time. Neither Vestwell nor any of its affiliates are tax advisors, legal advisors, and we do not provide or offer financial advice to any individual. Before making any decisions regarding your retirement plan, you are strongly encouraged to review and understand the investment’s objectives, its composition of stocks and bonds or other investments, how the asset allocation may change over time, and other risks and obtain the advice of your own financial or legal advisor before making any investment decisions regarding your retirement plan or other investments. All data in our investment education materials is provided by third party sources. Neither Vestwell nor any of its affiliates have independently reviewed, audited, or verified the information in those materials. Refer to the prospectus and fact sheet in your participant portal for more information about the specific risks of investing in the various asset classes included in the investment options available to your plan. Additionally, the cumulative effect of investment fees and expenses can substantially reduce the return on investments and, therefore, your retirement savings. However, fees and expenses are only two of the many factors to consider when deciding what investment is appropriate for you. For more information about the long-term effect of fees and expenses, visit the U.S. Department of Labor’s website at https://www.dol.gov/sites/dolgov/files/EBSA/about-ebsa/our-activities/resource-center/publications/a-look-at-401k-plan-fees.pdf

 

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