BlackRock (BLK) plans to work with corporate clients to create customizable 401(k) investment funds that can include public stocks and bonds, private assets, and annuities, the Wall Street Journal reported Wednesday.
The framework aims to customize retirement plans based on workforce demographics and wages rather than relying solely on traditional target-date funds, according to the report.
BlackRock said the approach seeks to combine 401(k) plans' portability and individual ownership with professional management and retirement income features typically found in pensions, the report added.
BlackRock did not immediately respond to MT Newswires' request for comment.
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