CitiStreet Participants Now Get Tailored Financial Curriculum
QUINCY, MA, November 23, 2004 – Millions of retirement plan participants served by CitiStreet now have the option of creating their own personalized financial e-curricula through an online tool called My Resource Center.
By filling out a brief questionnaire that helps determine a participant's level of financial knowledge and areas of interest, a computer-generated program will set up a curriculum of information on retirement issues, investing and personal finance.
"As with many employers, our retirement plan participants are always looking for meaningful and effective education tools," said Gail DiLisio, Director of Retirement Plans, Reed Elsevier Inc. "CitiStreet's My Resource Center is a great personalization feature that will enhance understanding of important financial and retirement planning topics."
In a little more than a month since the service was launched, more than 12,000 participants among CitiStreet clients have created their own personal e-curriculum, with the highest volume activity among those who described themselves as having basic financial knowledge and are not retiring for 11 years or more.
The new online tool draws from a CitiStreet library of more than 150 retirement, investing and personal finance articles in print, video and audio presentations. My Resource Center also provides a regular Market Outlook, as well as a selection of the educational articles in Spanish.
"My Resource Center is another step toward reaping the full potential of personalization technologies to positively affect employee behavior," said Lisa Margeson, CitiStreet senior vice president of communications. "We are continuing to slice data in more creative ways and have become smarter about using it to maximize our communications and education."
Those retirement plan participants who want to select their own curriculum, rather than have one generated by computer, can do so by going to a menu and clicking items of interest under the three main categories of Retirement, Investing and Personal Finance, the latter of which addresses topics outside of retirement and investing, such as mortgages and taxes.
For example, under Investing a person could choose from any of the following headings: Investment Basics; Mutual Fund Basics; Diversification; Risk Tolerance; Designing a Long-Term Investment Strategy; Reviewing Your Asset Allocation; Rebalancing Your Portfolio; Understanding Investment Markets.
After viewing any of the items in either the computer-generated or the self-selected My Resource Center, the participant can move them to a personal archive, which can be visited for review.
"We are providing a service that delivers personally relevant information to support individual participant decision-making," said Margeson.
About CitiStreet
CitiStreet, one of the largest global benefits delivery firms in the United States, is headquartered in Quincy, Mass. It has 3,500 employees and offices in East Brunswick, N.J., Jacksonville, Fla., Lewiston, Maine and Boston, and field offices around the nation. It also has a division, CitiStreet Australia, with offices in Sydney and Brisbane. CitiStreet serves more than 9 million participants and administers approximately $200 billion in assets in the United States for defined contribution, defined benefit and health and welfare plans of corporate, government, health care, Taft-Hartley and not-for-profit organizations. It also serves about million participants and administers about $4 billion in assets outside the United States. CitiStreet is a 50/50 joint venture between State Street Corp. (NYSE:STT) and Citigroup (NYSE:C). For more CitiStreet information, visit the Web site at www.citistreetonline.com.
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