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Plan Provider Adds Target-Date Funds

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Hartford Financial Services Group Inc. has introduced 6 new target-date funds

The Simsbury, Conn., retirement services arm of Hartford says its Hartford Target Retirement Funds series now has a total of 9 target-date funds, with the “target dates” spaced 5 years apart between 2010 and 2050.

Each fund is actively managed in an effort to serve the needs of a participant with an expected retirement date close to the target year, Hartford says. Each is organized as a fund of fund and invests in other funds in The Hartford Mutual Funds Family.

Available through the company’s 401(k), 457 and 403(b) retirement programs, the funds include a “glide path.” This feature annually recalibrates portfolios to a more conservative asset allocation as investors near and then enter retirement, Hartford says.

The company says it also is offering participant education materials on target-date funds. In addition, the company offers 2 other target date fund suites.