The Hartford Adds Funds to Target-date Series
According to a press release, the target-fund series now includes nine target date funds spaced five years apart between 2010 and 2050. Each fund invests in other funds in The Hartford Mutual Funds Family.
“The Hartford Target Retirement Funds offer an investment glide path that annually adjusts each portfolio’s asset allocation to address an investor’s age and target retirement date,” said Hugh Whelan, managing director for Hartford Investment Management Co., which manages the target-date funds, in the announcement. “A proprietary model adopted by The Hartford focuses on “real life” experiences taking into account circumstances the typical investor in this age group would face, considering variable such as average contribution rates, the retirement target, the percentage of income needed to be replaced in retirement, the payment of Social Security retirement income benefits, taxes and mortality.”
In addition, The Hartford is publishing education materials to help participants understand target-date funds, determine if they are appropriate for their individual investment goals and risk tolerance, and ultimately select an appropriate fund. New educational materials, including an “Easy Enrollment” form, are now available to retirement plan sponsors and participants explaining the different target-date funds available through The Hartford’s retirement programs and allowing participants of retirement plans to select which fund makes the most sense for them, including proprietary and non-proprietary funds.
The Hartford Target Retirement Funds are available through The Hartford’s 401(k), 457 and 403(b) retirement programs. The Hartford’s Retirement Plans Group also offers two other suites of target-date funds through its 401(k), 457 and 403(b) retirement programs: Barclays Global Investors LifePath Portfolios and Alliance Bernstein Retirement Strategies.
More information is at www.thehartford.com .