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Deals & People August 20, 2007
Pentegra to Offer SSgA Target Date Funds to DC Plan Participants
Pentegra Retirement Services will add State Street Global Advisor’s (SSgA) Target Retirement Strategies to its offerings for defined contribution plan participants.
Reported by Adrien Martin
In a press release, Gwen Burroughs, Chief Marketing Officer, Pentegra Retirement Services, said the SSgA strategies are index-based and therefore carry lower charges than many other target-date strategies. The funds are based on target retirement dates of 2015, 2025, 2035, and 2045.
“Our strategies focus on wealth creation during the working years and income replacement to better manage the transition into retirement. The strategies’ ease-of-use will likely encourage greater plan participation,” said Michael Dalis, director of Institutional Sub-Advisory Service at SSgA, in the release.
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.
For more information visit http://www.pentegra.com.