Boston College's Center for Retirement Research (CRR) and First Eagle Investment Management have announced a multi-year partnership to develop insights and tools for retirement plan sponsors and financial advisors to help plan participants save for retirement.
Initially, CRR and First Eagle will collaborate on publishing a series of papers focused on the key challenges retirement savers face in the years before and during retirement, according to a First Eagle press release. Topics to be addressed will include how different workers save in their company-sponsored retirement plans, what affects spending in retirement and the impact of healthcare expenses for different segments of the retiree population.
Eventually the two organizations plan to develop a customized, interactive platform that plan sponsors, financial advisors and plan participants can use to establish goals and strategies to plan for a secure retirement. The hope is that by using plan features and aggregated participant data the interactive platform — on plan sponsors' websites — will help increase participation in retirement plans.
