Legg Mason Inc. has created a retirement advisory council made up of industry leaders to review retirement products and challenges facing the industry, the Baltimore-based money management firm said Tuesday.
The Legg Mason Retirement Advisory Council, a think tank of 14 members, will meet quarterly to discuss best practices in the industry, as well as innovative products, service providers and issues such as the impact of federal policy on retirement products, the firm said.
Members of the council include representatives of 401(k) plan providers, retirement plan advisers and other industry experts.
"Retirement is front and center as an urgent challenge facing Americans," Tom Hirschmann, head of Legg Mason's Americas Institutional team, said in a statement. "By creating the Legg Mason Retirement Advisory Council, we're bringing together some of the best minds in the industry to collectively address the obstacles that prevent so many Americans from planning for their retirement."
