Edelman Financial Engines Launches New 401(k) Plan Retirement Income Solution

SANTA CLARA, June 16, 2022 - Edelman Financial Engines, America’s top independent wealth planning and investment advisory firm, today announced the launch of Income Beyond Retirement (IBR), a retirement income solution designed for 401(k) plan participants who are in or near retirement.

IBR combines portfolio management and technology-enabled analysis with financial advisor support to create highly personalized, flexible retirement income plans and investing strategies to match the individual needs of employees. With a heightened need given the macro environment, IBR is already being offered by dozens of leading companies, including notable employers such as Boeing, Lenovo, Equifax, Milliken and Prime Therapeutics and many of the FORTUNE 500. Edelman Financial Engines is working with its leading 401(k) provider partners to make IBR available to plan sponsors. Currently, the solution is live with its direct provider partners and will be available across all partners soon.

“We are proud to be working with leading employers to provide all employees with a sophisticated and integrated retirement income solution that is typically available only to high-net-worth investors,” said Stephen Rubino, senior vice president of Workplace at Edelman Financial Engines. “Transitioning into retirement can be an anxious time of life, and our Income Beyond Retirement solution helps solve a complex challenge while simplifying what employees need to do each step of the way – and providing near-retirees with peace of mind.”

IBR is a personal experience, not a product. Retirement means different things to different people, and no one-size-fits-all product or strategy can serve all retirees. Some participants will rely on their 401(k) balances to generate a steady income while others may aspire for more growth, whether for discretionary expenses or bequests. Retirees need a tailored and integrated experience that guides them from their working lives into retirement. Near-retirees aged 55 and older are offered a complimentary Retirement Checkup with an advisor, and together they develop a plan that manages to the employees’ anticipated needs while planning for the unexpected. IBR’s holistic approach to retirement planning addresses the complexity and uncertainty of retirement by focusing on critical decisions, such as claiming Social Security and evaluating income and growth preferences.

As a key feature of the Edelman Financial Engines Professional Management offering, IBR includes a suite of online resources and access to a team of financial professionals that provide:

  • A robust digital experience, including an assessment of after-tax spending capability.
  • Income planning and scenario analysis that help participants develop their own unique plans to manage risks associated with market uncertainty, sequence of returns, interest rates, inflation and longevity uncertainty.
  • Custom portfolio strategies tied to participants’ goals for reliable income, asset growth or any combination of objectives.
  • An integrated view, including optimized Social Security claiming strategies, in-retirement income sources, and withdrawals generated from all household accounts (including tax-deferred and taxable accounts).

Edelman Financial Engines is a trusted partner to employers, serving as a fiduciary to retirement plan participants and providing them with access to advisors who are free of product conflict and will always act in the best interest of the client – regardless of account size. IBR helps employees and retirees leverage the benefits and protections of their 401(k) plan, including institutional pricing, robust fund selection and creditor protections, while helping the plan sponsor retain plan assets.

“We want our people to have a great career and a great life while they’re at Boeing and in retirement as well. That’s why we offer a world-class 401(k) savings plan with one of the top company matches in the United States,” said Dimitra Hannon, senior director of Global Financial Benefits and Well Being. “We are always looking for innovative solutions to help our people with financial planning and to grow their retirement savings. Income Beyond Retirement from Edelman Financial Engines is one important way we can support them in their financial journey.”

About Edelman Financial Engines

Since 1986, Edelman Financial Engines has been committed to always acting in the best interests of our clients. We were founded on the belief that all investors – not just the wealthy – deserve access to personal, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisory firm, recognized by Barron's1 with 145+ offices2 across the country and entrusted by 1.3 million clients to manage more than $245 billion in assets.3 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves. For more information, please visit EdelmanFinancialEngines.com.

1. The Barron’s 2023 Top 100 RIA Firms list, a ranking of independent advisory firms in its eighth year, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms elect to participate but do not pay to be included in the ranking. Ranking awarded each September based on data within a 12-month period. Investor experience and returns are not considered.

2. Edelman Financial Engines data, as of Dec. 31, 2022.

3. Edelman Financial Engines data, as of September 30, 2023.

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