Participants in 401(k) plans administered byWells Fargo will now be able to makeinvestment elections for their 401(k) accounts from a mobiledevice.

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Wells Fargo Institutional Retirement and Trust announced thatthe most recent enhanced capabilities for mobile devices includethe ability of participants to change how their current balance andfuture contributions are invested among their 401(k) plans’available investment options.

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Read: Retirement readiness is focus of latest techupgrade

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This includes the ability to reallocate both current balance andfuture contributions in one transaction, using the same investmentelections.

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Diversification of investments is a key behavior thatcontributes to participants having adequate income replacement inretirement. The new mobile functionality helps supportparticipants’ ability to maintain their desired investmentallocations over time. Other key behaviors include participating inthe plan and contributing at least 10 percent of their salary totheir plan.

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The company has been working to upgrade mobile functionality forparticipants who prefer to monitor their plans and take action viamobile devices.

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Last year mobile users were provided with the ability to monitorinvestment performance, personal rate of return and portfolio mixfrom a personal device. The company also provides an “Easy Enroll”option that allows eligible employees to enroll in their 401(k)plan with just a text message and a few clicks, leveraging the textbanking platform.

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Other recent enhancements to participants’ digital plancapabilities include a redesigned desktop and tablet transactionpages for investment transfers and payroll deduction changes. Theredesigned pages provide participants a consistent experienceacross all channels, making it easier and faster to makeupdates.

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Wells Fargo provides retirement plan services to 4 millionparticipants representing $333.7 billion in retirement planassets.

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