NU Online News Service, Oct. 11, 2004, 3:44 p.m. EDT
Transamerica Retirement Services, Los Angeles, will be offering a group of 6 “lifecycle” funds to sponsors of small retirement plans.[@@]
The funds, part of the Target Retirements Funds family, are aimed at workers who prefer to leave asset selection and allocation to professionals.
Retirement plan members select the funds based on target retirement dates. Managers at Vanguard Group Inc., Valley Forge, Pa., will manage the funds and make sure that the percentage of investment-grade bonds and other relatively low-risk assets increases as the holders near retirement age, Transamerica says.
The core of each New Target Retirements fund is a group of 3 to 5 Vanguard index funds, Transamerica says.
Transamerica is a unit of AEGON N.V., The Hague, Netherlands.