RM Pt: 1
What is the base life expectancy within RM for both males and females?
91 and 93
What is the Earliest Age RM allows participants to start taking Social Security?
62
What does the acronym LIS stand for?
Under what tab on the Voya Site can a participant edit their Contributions?
Contributions and Savings under Manage Contributions
What is the Client Code for T Rowe Price?
TRPX
Which lifestyle should a participant select if they want to have only 80% of their take home pay during retirement?
Thrifty
What are the Three Main Sections that RM gives advice on?
Annual Savings Rate, Retirement Age, Social Security Benefit
Who is the Recordkeeper for the RTXX 401k Plan?
Alight
Where should participants first click to access RM once they are logged into their Voya account?
Get Investment Advice along the Top
Other than RM what are the other two Products our Team Supports?
Personal Target Date Funds (PTDF) and Morningstar Plan Advantage (MPA)
What are the three stages a person could be in on their retirement journey?
Accumulation, In Transition, In Retirement
Of those who choose the Advice Only Option of RM, what percentage never come back into the service to make further changes and updates?
Roughly 90%
Where should participants first click to access RM once they are logged into their Raytheon account?
Savings and Retirement
What is the average Basis Point Fee for a Voya Retirement Plan?
50 Basis Points
(?) Which Client uses the MPA Platform?
UBS
What is the name of the part of RM where it shows them where their income will come from each year in retirement?
Income Secure
What page allows a participant to exclude Funds from Retirement Manager's recommendations?
Accounts Page, by Editing the 401k account
What is one pro and one con of LIS?
Pro: secure stream of income come retirement (ideal for participants who don't have a lot of $ saved)
Con: High expense ratios
I want to rollover my old employer 401k to my Morningstar plan. Who can help me with this?
Voya, your plan provider/record keeper, who is essentially the administrator of your retirement account.
Who is the Client that still only has access to RM Classic Advice Only?
Carrier and Otis
What is the most aggressive asset allocation RM would put them in?
97% Equity and 3% Fixed Income
What is the difference between Managed by Morningstar and Managed by You?
By MS: ongoing professional management of your account, automatic rebalancing every quarter. You don’t want to watch the market’s every move. You’d rather leave investing to the professionals.
By You: point-in-time advice, recommendations only when you initiate a change, no automatic rebalancing and active monitoring of your account. You’re comfortable researching investments and making decisions about your plan on your own
Who was the previous 3rd-Party Investment Advice giver for Raytheon?
Edelman Financial Engines (EFE)
Are the savings recommendations given off by RM implemented or not implemented automatically for Voya participants?
No automatic change, only a Recommendation. Needs to be changed on Voya Site.
Which of Morningstar's Clients receive a form of RM for No Cost to the Participant?
Carrier and Otis
(If you got this you’re a Beast)