Great-West Life has launched a new online tool for its group retirement and savings plan members. The “Personal rate of return” widget helps members to assess the progress of their retirement savings.
The new widget (or “mini-app”) is an addition to the company’s GRS Access website, which provides information on users’ investment options and performance. The widget calculates users’ personal rate of return, taking into account the timing and amount of deposits and withdrawals made.
“In addition to illustrating personal rates of return, this tool also gives plan members the ability to monitor their investments’ performance and understand the impact of their investment decisions, which can help educate and guide them in setting, monitoring and achieving their individual retirement savings goals,” says Jeff Aarssen, vice-president of group retirement services sales and marketing for Great-West Life.