Willis Towers Watson launches pooled employer pension product

Willis Towers Watson PLC has entered the U.S. market for pooled employer plans on a bet that outsourcing of retirement plan management and administration will increase for small-to-medium sized plan sponsors, reports Plansponsor. WTW announced its LifeSight PEP on Feb. 23 with a goal of providing an offering that simplifies 401(k) plan sponsorship for employers at a lower plan cost and reduced operational and fiduciary burden.