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June 21, 2023

Craig Reid featured in PlanAdviser

Five generations comprise today’s workforce. This fact makes ensuring all employees are equipped for retirement often challenging for employers.

Many workers have 401(k) accounts with their current or former employers. Leaving these accounts in place is usually not the best option when they exit their company. An IRA rollover is a common solution. However, many of these 401(k) accounts have balances too low to roll over into a traditional IRA.

To address this, Marsh McLennan Agency has introduced MMA IRA. Craig Reid, National Practice Leader of Retirement & Wealth at Marsh McLennan Agency, spoke with PlanAdviser about the new product. He discussed how MMA IRA allows underrepresented workers to gain access to retirement strategies they wouldn’t have otherwise. This results in increased savings.

“We’re not looking at this as a resource to take from the left and move it to the right pocket,” Craig said. “We’re interested in extending value beyond the 401(k) plan, and … what this program is really designed to offer is that extension of value.” 

Read the full article in PlanAdviser.