Products August 17, 2015

ICMA-RC Adds Transaction Processing to Mobile App

Public-sector retirement plan participants can conduct transactions through their mobile devices.
Reported by

ICMA-RC recently enhanced its mobile application for public-sector retirement plan participants, making it easier for them to conduct transactions and access financial education and tools from their mobile devices.

Using the ICMA-RC mobile app, participants can enroll in their retirement plan directly from a mobile device (if the plan offers online enrollment). Participants may also view their account balance, year-to-date account activity, retirement income projection and personalized fund performance, as well as update personal information such as email address and mobile phone number, based on plan guidelines.

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There is also a rebalance option, which allows participants to transfer up to 100% of their account balance to one or more of the funds available in their plan.

The ICMA-RC mobile app offers market commentary, educational videos and a retirement savings calculator.

“ICMA-RC is pleased to lead the way in offering public sector employees the ability to seamlessly conduct their retirement transactions from a mobile device,” says Bob Schultze, ICMA-RC president and CEO. “Mobile technology is convenient and particularly well-suited to public sector employees who are on the move serving our communities. Now they can check their accounts anytime, anywhere.”

The ICMA-RC mobile app is available for download on the iTunes App Store and Google Play.

Investing August 17, 2015

A Summer Lull in Participant Trading

Trading activity was light within 401(k) accounts last month, according to Aon Hewitt.
Reported by

The Aon Hewitt 401(k) Index shows there were actually zero days of above-normal participant trading activity during July—making it the first month with no above-normal trading days since August 2014.

Aon Hewitt says just 0.021% balances transferred each day. Among the 22 trading days in the month, the index reveals 12 had more money flow into fixed income than equities.

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The most popular asset classes for inflows were GIC/stable value, large U.S. equity funds, and money market, while the most common classes for outflows were target-date, company stock and specialty/sector funds. Target-date funds continued to receive the majority of new contributions into individuals’ accounts.

The index finds participants’ overall allocation to equities decreased to 66.4% from 67.0%, while future contributions to equities dipped from 66.8% from 67.2%.

July Capital market returns were mixed, Aon Hewitt says, with the large-cap U.S. and global stock indexes showing positive returns. Small-Cap equities, both in the U.S. and globally, delivered negative returns.

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