Raytheon P1
Who is the Recordkeeper for the Raytheon 401k Plan?
Alight
What does the acronym LIS stand for?
Lifetime Income Strategy
T/F: The Voya feature, myOrangeMoney, impacts the advice generated on RM.
False, myOrangeMoney is just tool on the Voya site for participants. It does not impact our M* advice.
What is the client code for TRowe Price?
TRPX
What is the client code for Voya?
INGG
What is the website called for Raytheon participants to access RM?
Bonus Points: What is the correct web URL link?
Your Gateway
Bonus: www.yourtotalrewards.com/rtx
T/F: A participant cannot exclude the LIS fund from their portfolio.
False. A participant can choose to opt out/exclude the LIS fund on the bottom of the Profile page of RM ("Annuity Questionnaire").
Where should participants first click to access RM once they are logged into their Voya account?
Get Investment Advice along the Top
What is another client/product our team currently supports?
UBS Morningstar Plan Advantage (MPA) for UBS
Name three plan providers who we only provide a Contribution Rate Recommendation?
Voya, Sentry Insurance, Milliman (maybe other answers too)
Where should participants first click to access RM once they are logged into their Raytheon account?
Savings and Retirement
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 ratio
What is the average Basis Point Fee for a Voya Retirement Plan?
50 Basis Points
Do Sentry Participants have a relatively high or low fee for our service?
Low (28 bps)
What are the names of the two UTC clients who now have access to MRM as of Jan 2023?
Pratt Whitney and Collins Aerospace
T/F: Raytheon participants have an automatic contribution change in RM.
True.
T/F: A Raytheon participant wants to activate the LIS benefit and know more information about it according to their specific situation. M* is responsible for helping with this.
False. While M* can help give basic information about the LIS activation process, you should refer the participant to Alight who responsible for helping with activating the benefit and knowing LIS information specific to the participant.
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.
Which RTX/UTC clients only have access to RM Classic Advice Only?
Carrier and Otis
How often is the MRM fee deducted for Raytheon participants?
Monthly
Who was the previous 3rd-Party Investment Advice company for Raytheon prior to M*?
Edelman Financial Engines (EFE)
What is one reason a participant might NOT need to invest in the LIS fund?
Various answers: 1) The participant is already on a good track towards retirement 2) they have a pension and other secure outside accounts
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 RM for No Cost to the Participant?
Carrier and Otis
(If you got this you’re a Beast)
What two clients use Ascensus as their recordkeeper?
Vanguard and Mutual of Omaha