Great-West Financial has expanded its suite of retirement readiness products and services for plan sponsors and participants.

It added a Retirement Income Control Panel to provide a tailor-made retirement strategy for savings targets and gives each individual a custom income plan for spending down his or her retirement savings. It also has added 3(21) Fiduciary Services for new ERISA 401(k) plans to provide plan sponsors and their advisors with co-fiduciary protection in the selection and monitoring of a plan's investment options.

An Account Retirement Income Estimate on physical statements provides participants with an estimate of their monthly retirement income based on the accounts Great-West Financial record keeps for them. A Retirement Readiness Report Card for plan sponsors, which will be available in the first quarter of 2013, analyzes and reports on participants' estimated retirement income levels versus participants' target retirement income levels, then gives plan sponsors strategies for closing the gap.