Financial Engines and J.P. Morgan Retirement Plan Services today announced that Financial Engines® Income+ has been integrated into J.P. Morgan Retirement Plan Services’ 401(k) offering.
Income+ is available as part of J.P. Morgan’s in-plan professionally managed account program, J.P. Morgan Personal Asset Manager, which works within a 401(k)’s existing investment line-up to enable more personalized portfolios designed to provide steady retirement income.
“J.P. Morgan is committed to furthering investment line-up innovation,” said Donn Hess, Managing Director and Head of Product Development at J.P. Morgan Retirement Plan Services. “Income+ is one tool that helps provide the innovation and flexibility needed to help workers prepare for and generate steady and reliable income in retirement.”
Income+ is designed to balance safety and growth in the years leading up to retirement. It provides steady monthly payouts from a 401(k) account, which can last for life with the optional purchase of an out-of-plan annuity.
“With the successful implementation of Income+ at J.P. Morgan, Income+ is now fully rolled out at three large plan providers, which serve nearly 25 percent of the large plan market,” explained Larry Raffone, Executive Vice President of Distribution and Institutional Service at Financial Engines. “We are excited that demand for Income+ remains strong and will continue to make Income+ available to more participants throughout the year, ensuring that they get the professional retirement help they need to reach their retirement goals.”
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under supervision of approximately $2.0 trillion and assets under management of $1.4 trillion (as of March 31, 2012), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About Financial Engines
Financial Engines is the nation’s largest independent investment advisor, committed to providing everyone the trusted retirement help they deserve. The company helps investors with their total retirement picture by offering personalized retirement plans for saving, investment, and retirement income. To meet the needs of different investors, Financial Engines offers both Online Advice and Professional Management. Co-founded in 1996 by Nobel Prize-winning economist Bill Sharpe, Financial Engines works with America's leading employers and retirement plan providers to make retirement help available to millions of American workers. Financial Engines Advisors L.L.C. is a subsidiary of Financial Engines, Inc. (NASDAQ: FNGN).
For more information, please visit www.financialengines.com.
The statements in this release are not guarantees of future performance or plans. Please see Financial Engines’ SEC filings for more detailed discussions of the risks that could impact our future operating results and financial condition. We undertake no obligation to update the statements in this release to reflect events, circumstances or changes that might arise after the issuance of this release.