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.
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