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Products February 21, 2019
AXA Equitable Life Creates Asset Allocation Plan for 403(b) Participants
The program will contain both aggressive and conservative portfolios, both dependent on years before a participant plans to retire.
Reported by Amanda Umpierrez
AXA Equitable Life has announced the availability of Semester Strategies, a new asset-allocation investment program designed for K-12 403(b) retirement plan participants. Semester Strategies is said to combine an asset-allocation plan commonly found in target-date funds (TDFs), with some downside market protection and the financial guidance of a licensed professional.
When available under their employer’s 403(b) plan, individuals will have access to model portfolios that range from conservative to more aggressive based on their years remaining to retirement, risk tolerance and stated investment return objectives.
SWBC Investment Advisory Services created the model portfolios exclusively for AXA Equitable Life. SWBC provides ongoing fiduciary oversight for the program.
“As the leading provider of 403(b) retirement plans for K-12 educators, we continue to look for ways to innovate and provide greater value for our clients,” says Steve Scanlon, managing director and head of group retirement at AXA Equitable Life. “Current pension benefits alone are often not enough to allow individuals to live comfortably in retirement. We built Semester Strategies with educators’ unique retirement planning needs in mind by designing it to complement existing pensions with additional fiduciary oversight.”
The program is offered through an investment option in an AXA Equitable Life variable annuity contract for 403(b) retirement plans.
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