Retirement plan participants whose savings aren’t quite up topar are now able to get a graphic demonstration of that online,thanks to the Principal Financial Group.
Those who are doing really well will get a little motivation tostick with it, too, since the “Retirement Wellness Score,”according to the company, represents the percentage of aparticipant’s preretirement income they are able to maintain atretirement.
The wellness score takes into account a variety of incomesources that include account balances, contribution levels andbenefits in retirement plans (including defined contribution,defined benefit and nonqualified), outside savings that theparticipant enters into the system, and even an estimate of incomefrom Social Security. Together with other assumptions and data, allthose income sources are processed and the score is revealed onlinein a range from zero percent to 100+ percent.
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