ORLANDO, Fla.--(BUSINESS WIRE)--

The Newport Group, a leading national provider of retirement and executive benefit plans, announced that its My Forecast retirement readiness service is having a dramatic impact on employees retirement account balances, contribution amounts and overall engagement with their plans.

My Forecast allows employees enrolled in Newport retirement plans to instantly see their account balances, retirement income targets, and current projections, and shows them how to easily make adjustments to help them reach their goals. The feature was first introduced in October of 2011, and has been adopted by over 300 Newport plan sponsors to date.

In just a few months, My Forecast has already produced some exciting results, said Dennis Sain, Newports Senior Vice President, Retirement Services. On average, plan participants who use it have seen their account balances grow 40% more than those whose plans dont yet feature My Forecast. These participants are increasing their contributions to their plans. And they access their accounts 25% more often, performing nearly twice as many transactions on the site.

Unlike many other retirement planning tools, My Forecast is placed front and center on the participant website. Upon login to the site, plan participants see an immediate graphical representation of how their contributions support their desired retirement income. Should there be a gap, interactive tools are available to help them get back on track. The feature also differs from other services by allowing employees to add outside financial accounts, plans and assetsgiving them the most comprehensive snapshot possible of their total retirement readiness.

We believe financial services websites should be easy to use, relevant to a persons complete financial picture, and results-oriented, and we have an ambitious strategy underway to redefine Newports online participant experience accordingly, said Eric Brickman, Senior Vice President, Strategic Solutions Group. My Forecast will continue to be an integral part of this strategy, and were pleased to see this approach is already making a real, tangible difference in personal engagement and retirement savings results.

About The Newport Group

Founded in 1984, The Newport Group is a leading retirement services firmspecializing in the creative design and administration of retirement and executive benefit plans. Through its innovative and customized solutions, Newport is uniquely positioned to satisfy the distinct financial needs of employers and employees, and has done so for hundreds of the countrys largest and best-known companies.

Newport is headquartered in Heathrow (Orlando) FL, with service centers in Charlotte NC, Dallas TX, Greensboro NC, La Crosse WI, Orlando, FL, Richmond VA, and St. Petersburg FL. Newport also has offices in Atlanta, Cincinnati, Denver, Los Angeles, Nashville, New York NY, San Francisco, and St. Louis MO. For more information, visit http://www.newportgroup.com.

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Newport’s ‘My Forecast’ Dramatically Boosts Employees’ Retirement Readiness