Edelman Financial Engines says it has launched a retirement income offering aimed at 401(k) plan participants in or near retirement.

Income Beyond Retirement, as the new program is called, offers portfolio management and analysis as well as support from financial advisors for setting up retirement income plans and investing strategies, according to the firm.

IBR offers assessment of after-tax spending capability, income planning and scenario analysis, portfolio strategies customized for income, asset growth and other goals, as well as an integrated view of Social Security claiming strategies, income sources and withdrawals made from all household retirement savings accounts, Edelman says.

IBR also offers institutional pricing, fund selection and creditor protection, according to the firm.

The company adds that it has already signed up several employers to IBR, representing over $133 billion in retirement assets, including Boeing, Lenovo, Equifax, Milliken and Prime Therapeutics, among others.

“We are proud to be working with leading employers to provide all employees with a sophisticated and integrated retirement income solution that is typically available only to high-net-worth investors,” Stephen Rubino, senior vice president of the workplace unit at Edelman, said in a statement.

“Transitioning into retirement can be an anxious time of life, and our Income Beyond Retirement solution helps solve a complex challenge while simplifying what employees need to do each step of the way — and providing near-retirees with peace of mind," he added.

IBR is currently available to Edelman’s direct provider partners, with plans to offer it to all partners in the near future, according to Edelman.

Do you have a news tip you’d like to share with FA-IQ? Email us at editorial@financialadvisoriq.com.