From July 2019 to September 30, 2019, INPRS made adjustments to its Target Date Funds. These adjustments included:
- Changes to the investment mix, which will include increased equity and inflation-linked bond exposure and decreased fixed-income exposure. These changes will cause each funds’ level of expected investment risk to increase and will result in an overall change in the Target Date Fund glide path.
- The new Target Date Funds are being designed to provide capital appreciation during your working years and income throughout retirement in order to combat longevity, shortfall and inflation risks in retirement.
- This change will make the INPRS Target Date Fund glide path a “through retirement” model. In order to achieve this, two new Target Date Funds- the 2010 and 2015 funds will be available. The “through retirement” glide path construction can help members better manage longevity, shortfall, and inflation risks as they enter their retirement years.
- Members who are currently invested in the Retirement Fund but, based on their age, should be in one of the new funds – the 2010 and 2015 fund – will have their Retirement Fund balances moved into the appropriate fund.