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Crews helps users decide which pension election option is best for them, while helping plan sponsors comply with a changing regulatory landscape.
By combining information provided by the plan with the user’s personally provided retirement planning data and assumptions, users can see the impact of their choices.
CREWS provides a proprietary web-based interview, planning and reporting system that allows users to see the impact of their decision over the course of their retirement years, using their personal financial specifics.
In the end, participants and plan sponsors gain from a better communication and opinion of the lump-sum offer, while reducing potential downsides.
How it works.
Tens of millions of perennially under-served individuals and families are often those with the greatest need of advice, because most of them have limited financial means and are therefore the most vulnerable. They are also the least likely to be served by professional financial advisors.
Lump Sum Election Participant Services with CREWS technology
By combining information provided by the plan with the user’s personally provided retirement planning data and assumptions, users can see the impact of their choices.
CREWS provides a proprietary web-based interview, planning and reporting system that allows users to see the impact of their decision over the course of their retirement years, using their personal financial specifics.
In the end, participants and plan sponsors gain from a better communication and opinion of the lump-sum offer, while reducing potential downsides.
How it works.
- The plan sponsor makes The Participant System available to those being offered a lump-sum.
- Participants are given access to the online system and other resources. They can then enter their retirement information and receive their analysis, confidentially.
- A comprehensive report showing the differences between the options, and their potential impact upon the participant’s retirement plans, is provided, free from product recommendations and sales pitches.
Tens of millions of perennially under-served individuals and families are often those with the greatest need of advice, because most of them have limited financial means and are therefore the most vulnerable. They are also the least likely to be served by professional financial advisors.
Lump Sum Election Participant Services with CREWS technology
- Lump Sum vs Pension Analysis – CREWS system allows participants to determine confidentially which option is best for them using their own retirement information
- Education – Both Qualitative and Quantitative, Personal and Impersonal –for all participants receiving offers.
- Specially trained DB Advisor Network (Experienced with DB plan issues, lump sum election offers from de-risking plans, retiree planning issues, and the latest legal and regulatory requirements)
Lump-sum activity from defined benefit pension plans entails a process that often leaves something to be desired.
The current method usually involves the participant deciding from a few amounts in an election letter, often with a 30-day time limit.
The lump-sum is usually very enticing as it provides flexibility and a pool of investable assets. However, many people quickly spend some or even all of the money, leaving less than needed for a long retirement. Many active and terminated participants take the lump-sum, with a minimum of analysis. Those with larger amounts at stake will often call a financial adviser who may, or may not, be unbiased in their advice, or interested in the case.
Participants need (and merit) an improved course of action.
CREWS provides a proprietary web-based interview, planning and reporting system that allows users to see the impact of their decision over the course of their retirement years, using their personal financial specifics. We also provide a suite of services to educate and provide a "human touch" to the process.
In the end, participants and plan sponsors gain from a better communication and opinion of the lump sum offer, while reducing potential downsides.
Our mission is to support wise decision-making.
CREWS is an impartial 3rd party - it has no financial interest in the participant's election. CREWS is paid solely from the fees paid for the use of its systems and online assistance provided by its materials and is not paid more or less depending upon the choices users of our systems and services make.
We aim to be highly transparent in doing so, which is why we have portions of our site that pertain to plan sponsors, plan participants, and third party intermediaries, and why we open all parts of the site to everyone. We believe that when decisions are being made, it is helpful when all parties know who stands to benefit, and who is taking on what risks.
Supporting wise choices for plan sponsors means providing them the opportunity to work with experts who can identify and explain all the options and then help implement them. Supporting plan participants means providing educational materials that explain the nature and consequences of the choices being presented, and advisory software that can crunch the numbers that apply to each person’s situation.
For us, it’s not enough to get things to happen. We want to make sure that they happen in the best possible way.
To find out more about our Pension De-Risking Services click here.
The current method usually involves the participant deciding from a few amounts in an election letter, often with a 30-day time limit.
The lump-sum is usually very enticing as it provides flexibility and a pool of investable assets. However, many people quickly spend some or even all of the money, leaving less than needed for a long retirement. Many active and terminated participants take the lump-sum, with a minimum of analysis. Those with larger amounts at stake will often call a financial adviser who may, or may not, be unbiased in their advice, or interested in the case.
Participants need (and merit) an improved course of action.
CREWS provides a proprietary web-based interview, planning and reporting system that allows users to see the impact of their decision over the course of their retirement years, using their personal financial specifics. We also provide a suite of services to educate and provide a "human touch" to the process.
In the end, participants and plan sponsors gain from a better communication and opinion of the lump sum offer, while reducing potential downsides.
Our mission is to support wise decision-making.
CREWS is an impartial 3rd party - it has no financial interest in the participant's election. CREWS is paid solely from the fees paid for the use of its systems and online assistance provided by its materials and is not paid more or less depending upon the choices users of our systems and services make.
We aim to be highly transparent in doing so, which is why we have portions of our site that pertain to plan sponsors, plan participants, and third party intermediaries, and why we open all parts of the site to everyone. We believe that when decisions are being made, it is helpful when all parties know who stands to benefit, and who is taking on what risks.
Supporting wise choices for plan sponsors means providing them the opportunity to work with experts who can identify and explain all the options and then help implement them. Supporting plan participants means providing educational materials that explain the nature and consequences of the choices being presented, and advisory software that can crunch the numbers that apply to each person’s situation.
For us, it’s not enough to get things to happen. We want to make sure that they happen in the best possible way.
To find out more about our Pension De-Risking Services click here.