Retirement Target Funds

Over the past several months the Trustees have conducted research regarding “Retirement Target Funds” as an addition to the twelve current investment options (core options) in the Raceway to Retirement Program for the St. Paul Electrical Construction Workers 401(k) Plan.

The Trustees are pleased to announce a suite of six Retirement Target funds will be added to the investment choices in the Raceway to Retirement Program in January 2009.  These six funds are professionally managed by Manning and Napier Advisors, Inc.  Manning and Napier has been in the investment business for over 35 years and is considered a pioneer in Retirement Target fund management.

What are Retirement Target Funds?
A Retirement Target fund is a one stop investment solution designed to match the needs of an investor with an anticipated “target” date for retirement providing a simple yet sophisticated solution on how to invest your Plan contributions for a secure retirement.  Each Retirement Target fund offered by Manning and Napier is a diversified mix of stocks, bonds and cash that automatically becomes more conservative as the target date draws near.  The experienced investment professionals at Manning and Napier carefully select and manage the mix of investments in each Retirement Target fund to help you meet your challenging needs overtime leading to your retirement.  You simply select the one Retirement Target fund that is closest to the year you expect to retire and leave the investment management to the experts.  The suite of six Retirement Target funds to choose from includes.

• Manning & Napier Retirement Target Institutional 2050
• Manning & Napier Retirement Target Institutional 2040
• Manning & Napier Retirement Target Institutional 2030
• Manning & Napier Retirement Target Institutional 2020
• Manning & Napier Retirement Target Institutional 2010
• Manning & Napier Retirement Target Institutional Income

How Can I Learn More About These New Options?
For more information on the addition of Retirement Target funds to the Raceway to Retirement Program, please read the brochure “Is a Retirement Target Fund Right for You”.

Educational Materials
Educational presentations by Manning & Napier and Fund office representatives regarding the addition of Retirement Target funds to the Raceway to Retirement Program were held October thru December 2008. You may review the meeting presentation materials here.