TIAA-CREF has launched the TIAA-CREF Lifecycle 2055 Fund, a target-date fund aimed at those who are 18 to 22 years of age and destined to leave the workforce in or around 2055.
“We’ve heard from our clients that their evolving workforce requires this later-dated fund,” said Randall Lowry, managing director and product manager for the TIAA-CREF Lifecycle Funds. “As this year’s college graduates begin to enter the workforce, it’s imperative that we encourage them to start saving and investing early. Beginning with their first few paychecks, a tool such as a target-date fund is a simple way to get started.”
The fund will employ the same glidepath as TIAA-CREF’s existing active Lifecycle Funds, using both quantitative and fundamental strategies to help reduce volatility and diversify risk.”