J.P. Morgan Retirement Plan Services introduces mobile web experience for participants
Jun 28, 2012
New York, NY – J.P. Morgan Retirement Plan Services (RPS), a division of J.P. Morgan Asset Management, has launched a mobile device-optimized experience for 401(k) plan participants. In addition to providing access to key account information, the mobile application features a “quick enroll” application targeted to eligible participants.
The quick enroll feature allows a nonparticipant to easily enroll in a 401(k) plan on a mobile device. The individual will start contributing at a specified amount and will be invested in the plan’s default investment option, which is typically a target date fund. The only pieces of information required to enroll on the mobile device are:
- His or her date of birth
- The last five digits of the Social Security number
- The home zip code
“We’ve applied behavioral science in developing this experience,” said Donn Hess, managing director and head of product development for J.P. Morgan Retirement Plan Services. “Inertia is extremely powerful, and many individuals don’t overcome the obstacle of resetting a password. In this case, individuals can attend 401(k) plan informational meetings and enroll before they even leave the room. We want to eliminate any barriers to saving.”
Any further account transactions require full authentication, but participants can move between the mobile experience and full Web experience without authenticating again. Along with the participant’s account balance, the mobile experience prominently displays the estimated annual income the individual is on track to receive in retirement, a central piece of information provided to J.P. Morgan plan participants for the past decade.
“We also felt it was important for the experience to translate across any number of devices,” said Mr. Hess. “Our research shows that two-thirds of participants are counting on their 401(k) plans as their primary source of income in retirement. We want those individuals to have access to their accounts easily and securely.”
For more information and to see the new experience, visit www.retireonline.com on your mobile device.
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