BlackRock introduced a new series of benchmarks aimed at helping investors prepare for a smoother ride during their retirement years.
The CoRI Retirement Index series, or CoRI Indexes, allows pre-retirees to calculate an estimate of how much their current savings would generate in annual income when they turn 65.
The 10 CoRI indexes are linked to age bands between 55 to 64 years old. A CoRI Index 2015, for instance, is designed for someone 63 years old, who will turn 65 in 2015.
Each index consists of a U.S. dollar-denominated bond portfolio designed to follow the attributes of the target level calculated. An online tool lets investors see their current expected retirement income along with actual index levels.
BlackRock filed prospectuses with the Securities and Exchange Commission to introduce bond funds linked to the CoRI indexes. The company expects to launch the bond funds later this year.
The online tool is available at www.blackrock.com/cori/cori.