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iJoin’s Managed Account Program Gives Advisors an Evolved Approach to Personalizing Participant Success

March 10, 2020
iJoin’s MAP presents a QDIA option with recommendations based on each person’s unique retirement funding need

The new iJoin Managed Account Program (MAP) provides financial advisors an evolved, “manage it for me” investing option for retirement plan participants. Founded on liability-driven investing principles, iJoin’s goal-based MAP personalizes recommendations based on each person’s age, income, savings and dozens of other known data points to achieve retirement income sufficiency.

At the discretion of the plan advisor and plan sponsor, iJoin‘s MAP may be implemented as the plan’s Qualified Default Investment Alternative (QDIA), providing ERISA 3(38) fiduciary protection to both the plan and participants. In doing so, the plan sponsor simultaneously obtains safe harbor protection by conducting a re-enrollment event. 

“These first 40 recordkeepers have a distinct competitive advantage in the marketplace today and we’re going to do everything we can as a technology partner to help them maximize that advantage.” - Steve McCoy

iJoin has evolved the approach to modeling goal completion by assigning, continuously monitoring, and updating the investment strategy for each investor based on market performance, accumulated savings, contribution rates, and other factors. The approach is designed to accommodate a retirement plan’s existing investment lineup and 3(38) Investment Manager. The core logic may be applied to investment lineups seeking to achieve a Target Rate of Return or an Expected Rate of Return.

The program applies a liability-driven investment methodology in modeling each person’s retirement funding need, defined as the cost of an annuity that would yield the desired retirement income. iJoin’s calculations use market annuity prices to fund inflation-adjusted, lifetime retirement income. The calculator also incorporates critical external income sources like Social Security, outside pensions, and other savings.

Recordkeeping platform integration provides access to essential data on plan limits, matching contributions, and auto-increase features. iJoin actively considers these variables to help participants maximize their savings potential. Projections based on broader, more comprehensive data lead to greater client confidence in the process and in their own savings path. This supports the role of the financial advisor as their guide.

iJoin MAP makes it easy to help plan participants take action and get on track for long term success.