Business Logic Announces New Financial Analysis Tool for On-Line Retirement Planning, Asset Allocation and Fund Selection.CHICAGO--(BUSINESS WIRE)--Aug. 2, 1999-- Northern Trust Signs 80,000 New 401(k) Participants Since Implementing Business Logic's Net Education & Planning Solution Business Logic, a leading provider of web-based solutions for financial and banking institutions, today announced the release of Net Education & Planning, an Internet-based financial analysis tool that automates retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. , asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. and fund performance analysis for retirement plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. . The Net Education & Planning solution is unique in the industry because it integrates a plan participant's data from a financial institution's record-keeping into the planning calculator's system (eliminating the need for customers to input the data manually), and also lets participants save planning scenarios. Net Education & Planning is customizable - it allows financial institutions to tailor A tailor is a person whose occupation is to sew menswear style jackets and the skirts or trousers that go with them. Although the term dates to the thirteenth century, tailor material to existing marketing elements, and has a flexible architecture that allows different modules to be directed to different types of participants. In addition, Net Education & Planning enables financial institutions to provide advice to customers from any user interface preferred. "These cutting-edge tools empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems plan participants to manage their complex financial and retirement savings goals. Because we're we're Contraction of we are. we're we are able to offer service to our customers when it's convenient for them, they find a better value in Northern Trust," said Mike Hall, Vice President and Manager of Product Development at Northern Trust. "In addition, these tools allow us to reach our customers individually with targeted cross-product and service information. We look forward to working with Business Logic on future product enhancements and upgrades to the system as our sponsor and participant needs continue to change and evolve." The combination of flawless integration and functional knowledge has given Northern Trust (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : NTRS NTRS NASA Technical Report Server NTRS National Therapeutic Recreation Society NTRS National Technology Roadmap for Semiconductors NTRS National Technology Readiness Survey ) success to the degree of 80,000 new participants since May. Northern Trust Retirement Consulting, L.L.C., a division of The Northern Trust Company, has been a leader in offering transactions and inquiry capabilities for plan participants since 1998. In an effort to provide customers with knowledge they can act on, Northern Trust Company adopted Business Logic's Net Education & Planning tools. The new system has been a breakthrough in the fast growing 401(k) arena because it enables data that previously had to be manually entered by the participant to be pulled automatically into the planning tools. Net Education & Planning offers participants a variety of valuable tools:
- Asset Allocation Module - Participants are assisted in
understanding what asset allocation is, and its important impact
on investment planning. The module also provides an investor
profile questionnaire with sample portfolios along with a tool
for analyzing historical performance of various strategies.
- Fund Performance - After developing an asset allocation strategy,
the participant has the tools necessary to understand which funds
best fit the approach. Customers can first read an overview of
how to analyze mutual funds and then use the fund performance
charts to make an informed decision.
- Retirement Planning - Three tools are provided for retirement
planning. The Balance Projection tool allows participants to
predict future balances taking into account contributions and
various rates of return. The Quick Retirement Planner provides
analysis of the income that will be earned if current 401(k)
savings strategies are continued. The Total Retirement Planner
broadens the planning view to include non-401(k) savings sources,
tax rates, and more.
- College Planning - Participants can plan for college savings by
trying various investment strategies. The Planner helps
participants make the distinction between general inflation and
"education" inflation. The College Planner is flexible - allowing
for multiple children, even planned children, to be included in
the analysis.
"Business Logic's Net Planning & Education solution provides companies the advantage of being able to offer their participants an invaluable tool," said Dirk Quayle, Vice President, Product Development at Business Logic. "In addition, the solution is instrumental in giving participants the working knowledge they need to make an informed decision." About Northern Trust The Northern Trust Company (http://www.northerntrust.com ) is a multi-bank holding company with worldwide locations and provides master trust, global custody, treasury, retirement, risk and performance and investment management services for corporations and large institutions. As of June 30, 1999, Northern Trust had $1.34 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. in assets under administration, and over $258 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . About Business Logic Business Logic Corporation provides Web-based solutions for the banking and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries from its headquarters in Chicago. Business Logic works Logic Works Inc. was a software company based in Princeton, New Jersey. Their flagship product was an IDEF1X modeling and database design tool called ERwin (ERwin) whose name is formed from an initialism of ER for Entity Relationship and "win", short for windows. with leading financial and banking institutions, including Northern Trust, National City/First of America Bank, PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank, KeyCorp, Scudder Kemper Investments, and Bank of Montreal/Harris Bank. |
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