Report: ADA Members Retirement Program investment option among top 2018 performers
April 08, 2019
A new AXA target-date fund series option offered in the ADA Members Retirement Program ranked among the best performers in 2018.
AXA Equitable Life, which administers the ADA Members Retirement Program, saw its target-date mutual fund — called the 1290 Retirement series — among the top 5% performers of U.S. target-date mutual funds, according to Ignites, a publication service of the Financial Times, which used data showing rankings based on average returns across various funds. Target-date mutual funds is a type of “set it and forget it” investment where funds are allocated from higher risk mutual fund investments to more conservative investments over time.
The Council on Members Insurance and Retirement Programs welcomed the news of the high performance ranking, which equates to good news for ADA members taking advantage of the AXA Equitable 401(k) retirement program’s diverse investment fund line-up.
“AXA’s introduction of these new lower cost target-date fund options helps broaden the competitive marketability of the ADA Members Retirement Program and enhance value to our members and their employee participants,” said Dr. Naomi Ellison, CMIRP chair.
The ADA Members Retirement Program is designed to meet the needs of dentist employers and their employees by offering an affordable, flexible way to build retirement assets. The program provides lower-than-typical start-up and maintenance fees compared to retirement plans arranged through commissioned sales agents/brokers; a diverse range of investment fund options; full recordkeeping and plan administration including plan updates that comply with changing laws; and a dedicated service center for ADA plan participants.
The ADA Members Retirement Program also offers a broad and diversified selection of investment options across the asset class spectrum including a guaranteed option, asset allocation funds based on either conservative, moderate or aggressive investment strategies and target-date allocation funds, such as the new AXA 1290 retirement fund series, which are designed using a mix asset classes to maximize return yet minimize risk as the target or retirement date approaches.
“Unlike many target date fund managers who often select funds solely from one mutual fund family, AXA has virtually an entire universe of Exchange Traded Funds (EFTs) from which we can choose to invest,” said Ken Kozlowski, managing director and chief investment officer of AXA Equitable Funds Management Group. “That not only gives us the means to provide full diversification across asset classes, but helps us keep costs competitive.”
“It’s part of an investment strategy that allows [dentists] to take advantage of the equity market while protecting [their] position over time,” said Santo Loporto, senior director of AXA Equitable Life.
For more information on the ADA Members Retirement Program, visit ada.axa-equitable.com or call 1-800-523-1125.