The Hartford Target Retirement Funds Expanded

The Hartford Mutual Funds Family has expanded the number of the Hartford Target Retirement Funds from three to nine, the company reports. The Hartford Target Retirement Funds are available through defined contribution retirement plans offered by The Hartford Financial Services Group Inc.Target date funds are typically a series of investment portfolios actively managed to a specific target year closest to the expected retirement date of the investor. As the target retirement date approaches, the portfolios move towards more conservative asset allocations.The Hartford Target Retirement Funds now feature nine target date funds spaced five years apart between 2010 and 2050. Each fund is organized as a fund of fund that is actively managed and invests in other funds in The Hartford Mutual Funds Family.“We are expanding the number of target date funds that we offer to defined contribution retirement plan sponsors and their participants to help meet the long-term needs of retirement investors,” says Jamie Ohl, SVP and director of The Hartford’s Retirement Plans Group. “Target date funds continue to grow as the investment of choice for retirement-oriented investors.”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 offer 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. The Hartford also is publishing education materials to make it easier for retirement plan participants to 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. The materials explain the different target date funds available through The Hartford’s retirement programs and then allow participants of retirement plans to select which fund makes the most sense for them, including proprietary and non-proprietary funds.