Great-West Launches New Target Date Funds
GREENWOOD VILLAGE, CO, June 4, 2009 -- Great-West Retirement Services, a leader in providing innovative retirement products and services, is introducing the next generation of target date funds with the launch of the Maxim Lifetime Asset Allocation SeriesSM.
Unlike first-generation offerings, the Maxim Lifetime Asset Allocation Series provides
- Three distinct glide paths
- A lifetime investing approach
- Expert third-party consultation
- 20 leading investment managers
- 28 underlying funds
- A blend of active and passive investment management
"We waited until now to introduce a target date product because we wanted to redefine and enhance the target date fund category," said Charlie Nelson, president of Great-West Retirement Services. "Through the passage of time and the benefit of 20/20 hindsight, it became clear that first generation target date funds have some limitations. The Maxim Lifetime Asset Allocation Series addresses those concerns."
Nelson cited as examples, the Maxim Lifetime Asset Allocation Series' choice of multiple glide paths from conservative to aggressive, the variety of investment managers, and an asset allocation approach that extends beyond retirement. "These enhancements result in a strong fiduciary process for plan sponsors and an investment vehicle that helps participants meet their retirement savings goals," he said.
About Great-West Retirement Services
Great-West Retirement Services, a business unit of Great-West Life & Annuity Insurance Company, is the fourth-largest retirement plan record keeper in the United States, based on total participants at year-end 2008, according to a ranking by Spectrem Group. In all, Great-West Retirement Services provides 401k, 401(a), 403(b) and 457 retirement plan services to nearly 21,000 plans representing 3.7 million participants and $92 billion in assets at Dec. 31, 2008.
###
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company or its representatives. 401khelpcenter.com, LLC is not the author of this release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com, LLC.
