Products January 2, 2001

Northern Trust Renews Passport

February 1, 2001 (PLANSPONSOR.com) - Northern Trust Retirement Consulting has launched a new version of Retirement Passport, its web-based plan participant product.
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Described as a “redesign”, the product offers 24-hour participant access to:

  • Plan inquiry and transactions
  • Financial modeling and planning
  • Third-party investment advice tools

Retirement Passport currently provides Internet access to more than 2 million 401(k) and defined benefit plan participants. The product was originally launched three years ago.

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Fast Track

Northern said it is on the fast track to make future upgrades for the new platform, perhaps one every 100 days. Planned upgrades will include:

  • Defined benefit modeling
  • Automatic rollovers
  • Wireless access
  • Account aggregation
  • Financial modeling/advice on personal assets
  • Access to self-directed account brokerage
  • Non-qualified plan access

A full-featured plan sponsor web site is also on the drawing board, according to Serge Boccassini, Director of Product Development and Principal of Northern Trust Retirement Consulting.

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