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Products June 8, 2011
TIAA-CREF Launches 2055 Target-Date Fund
June 8, 2011 (PLANSPONSOR.com) - TIAA-CREF announced the launch of the TIAA-CREF Lifecycle 2055 Fund, designed to meet the needs of investors who are 18 to 22 years old and plan to retire and leave the workforce in or around 2055.
Reported by Rebecca Moore
The Lifecycle 2055 Fund expands TIAA-CREF’s Lifecycle Funds series to 10 offerings in five year increments and a Lifecycle Retirement Income Fund. The TIAA-CREF Lifecycle Funds’ glidepath continues through the retirement date to allow for additional potential growth of assets to fund retirements of potentially 20 years or longer.
According to the announcement, at the outset, the Lifecycle 2055 Fund allocates 90% of assets to equity and 10% to fixed income. By its 2055 target retirement year, the allocation will shift to 50% equity and 50% fixed income, reaching the final allocation of approximately 40% equity and 60% fixed income between 2062 and 2065.
More information is at http://www.tiaa-cref.org.