BOSTON — Pentegra Retirement Services, a NAFCU Preferred Partner, has teamed up with State Street Global Advisors to offer target retirement date funds to defined contribution plan participants.
With “target date” retirement funds, employees choose the target retirement fund that is closest to the date of their retirement: 2015, 2025, 2035, or 2045. Each fund is a mix of cash, bonds and stocks, the percentage of each based on years to retirement. As the years go by, the funds are rebalanced and become incrementally more conservative. The funds aim to help eliminate the confusion many investors feel when faced with too many mutual fund choices in the typical 401(k), according to Pentegra and State Street.
NAFCU Service Corp.'s partnership with Pentegra launched in 2006.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.