Plan Administrators Inc. (PAi) announced Jan. 14 the “takeoff” of “Co-Pilot 401k,” a full-scope plan created to help participants chart a smooth course toward retirement and designed to address turbulence often faced by plan advisors.
By integrating active recordkeeping with proactive alerts and managed accounts, PAi says it was was able to create a micro and small business solution that gives advisors back their time and guides participants to their desired retirement destination.
"Co-Pilot was designed with financial advisors in mind," said Michael Kiley, founder of PAi. "Our focus is simplifying plan sales while reducing fiduciary exposure. Co-Pilot's full-scope solution is the only 401(k) plan that combines managed accounts, participant level advice, proactive alerts and Years of Retirement — a game-changing participant engagement experience."
Specifics include:
- Managed Accounts: The Co-Pilot 401k includes account management with full-service investment selection and monitoring, and also provides personalized investment recommendations for participants.
- Plan Alerts: PAi's proprietary active recordkeeping system offers proactive plan alerts to let advisors know about changing conditions, ensuring that valuable opportunities are always on their radar.
- Years of Retirement Participant Experience: The Years of Retirement experience gauges how many years of retirement participants will have based on their current savings, and shows them how to "buy" more years of retirement without lengthy calculations.
More information about the Co-Pilot 401k is available here.
