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Rating:Funds for the Retiree Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, May 09, 2000

Funds for the Retiree

Reported by Joel Kranc

The Principal Financial Group has launched a new mutual fund program, Path for Income, designed to assist retirees and pre-retirees with managing retirement income. The program helps individual investors make the financial transition from the asset accumulation to the asset distribution stage of life.

Path for Income uses a three-step process of a lifestyle financial review to identify retirement income needs, an investment risk assessment to determine investors' attitudes toward risk and a series of five asset allocation models, designed by Ibbotson Associates, intended to match their income needs and risk tolerance. The overall program has an income orientation to help ensure retirement assets can provide a comfortable level of income without being prematurely depleted. Path for Income investor assets can be proportioned among several different Principal Mutual Funds.

With a minimum $25,000 investment, Path for Income investors determine a monthly, semi-annual or annual withdrawal schedule to receive their income, as well as where the funds will be allocated, such as current banking accounts.

Path for Income Features
-- Ability to choose from a portfolio of professionally managed mutual funds to best meet customer income needs and risk tolerance
-- Diversity in mutual fund management, both inside and outside managers oversee Path for Income assets
-- Ability to control cash flow, with easy access to assets
-- Ability to monitor allocations and adjust approach as financial needs change 

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