At the heart of Allianz Global Investors' PlanSuccess tool are three numbers: 90-10-90. Those numbers form the basis of the firm's goals for retirement plan advisors.

"The idea is to get 90 percent of employees participating in the plan," Cathy Smith, co-director of Allianz Global Investors' Center for Behavioral Finance, told AdvisorOne. "We want to get them saving at least 10 percent." Then the goal is to get 90 percent of participants invested in appropriate vehicles, usually some kind of professionally managed fund, Smith said.

"PlanSuccess is a comprehensive system to improve the design of 401(k) plans and defined contribution plans in general from a behavioral perspective," Smith said.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.