ProductsMay 24, 2010

CUNA Redesigns Target-Date Fund Series

CUNA Mutual Group has teamed up with Madison Asset Management to reengineer its Ultra Series Target Retirement Date Funds to support an outcome-based retirement planning model.

Reported by Rebecca Moore

The redesigned funds use a more conservative approach in the 10 years prior to retirement and after retirement with a focus on capital preservation.

“The funds’ glidepath uses a unique ‘risk management zone,’ which gives portfolio managers the ability to adjust the equity exposure based on current market valuations and economic conditions.” said Tom Eckert, vice president of Retirement Plan Services, in a press release.

According to the company, the Ultra Series Target Date Funds are now being used in more than 2,000 401(k) plans offered by CUNA Mutual and feature Target 2020, 2030 and 2040 versions. The funds are managed by Madison Asset Management.

CUNA Mutual Group, a manager of credit union retirement plans, manages 4,000 credit union retirement plans representing $6 billion in assets under administration.