Prudential Retirement is now offering defined contribution plans its guaranteed income solution with According to a release, Prudential IncomeFlex Target Russell LifePoints Institutional Target Date Funds are available immediately. IncomeFlex Target is offered by
"Prudential is pleased to be able to help place more and more American workers on a secure path to and through retirement by increasing their choice of target date fund families that can be used to meet their guaranteed lifetime income needs," said
Prudential created IncomeFlex Target specifically for defined contribution plans. This solution provides participants with guaranteed lifetime income, sustained potential for growth, downside protection for retirement income and complete access to their market value. IncomeFlex is currently offered in more than 7,000 retirement plans.
The Russell LifePoints Institutional Target Date Funds invest across a broad range of asset classes: equity (U.S., non-U.S. and global), fixed income (U.S. and non-U.S.), and real assets (global listed infrastructure, global listed real estate and commodities) and use a blend of active and passive management. The portion that is actively managed is invested with a diversified mix of third- party advisors selected by Russell's industry-recognized manager research process, and focuses on areas where Russell's capital market insights indicate that there is the highest potential for active manager outperformance, including global equities, small cap equities and real assets. The asset allocation of these funds automatically becomes more conservative as the target goal approaches by lessening equity exposure and increasing exposure in fixed income type investments. Principal value is not guaranteed, including at the target date.
"We're excited to partner with Prudential Retirement to combine our established multi-asset, multi-manager LifePoints Institutional Target Date Funds with their guaranteed lifetime income solution," said
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations.
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Prudential Retirement is now offering defined contribution plans its guaranteed income solution with
According to a release, Prudential IncomeFlex Target Russell LifePoints Institutional Target Date Funds are available immediately. IncomeFlex Target is offered by