Target Date Series Data Points and Definitions

The source for our target date series data is through the managers themselves.  Semi-annually, managers supply Broadridge with updated series data.  The updated series data is present in the Retirement Product Evaluator. If you have any suggestions for criteria you'd like to see added, please send your suggestions to [e-mail].

1. Architecture: Describes whether the target date series has a closed, open, or co-manufactured architecture.
2. Available Product Types: Describes if the target date series is available as a mutual fund, CIT, and/or an ETF.
3. CIT Trustee: The name of the CIT Trustee, if the target date series is a collective investment trust.
4. Data Source: Indicates whether data was sources from the target date manager or other source.
5. Degree of Personalization: Specifies if personalization is available based on age, risk-capacity, or is automated 
6. Degree of Personalization Description: Describes how the target date series is personalized for the participant.
7. Inception Date: The inception date of the target date series.
8. Investments Management Style: Indicates whether the target date series investments are managed actively, passively, or a blended style. 
   1. If more than 75% of a series’ portfolios are in index funds, it’s passive. 
   2. Those with less than 25% of assets in index funds are active. 
   3. Those with between 25% and 75% of assets in passive fund are blended offerings.
9. Manager Tenure: The number of years in which the most senior manager has been in place for this product.
10. Managers: Investment team member information includes names, years of experience, and biographies for each member of the team.
11. Net Cash Flows (Previous Year): Most recent year end annual net flows in to or out of the target date series.
12. Recordkeepers: Availability Description: A description of the availability of the target date series on recordkeeping platforms.
13. Sales Contact (External): Phone and Email: Sales Team phone (optional) & email
14. Series AUM: The total of assets managed in the target date series as of the prior year end.
15. Target Date Managers: If the series is open or Co-manufactured architecture, who are the underlying target date manager(s)?
16. Target Date Series Objective: The objective of the target date series.
17. Assumed Retirement Age: The assumed age of retirement for a participant by the target date series.
18. Benchmark Methodology: The benchmark comparison used for the target date series.  Examples could include a custom composite index, S&P, Morningstar average.
19. Calendar Based Frequency: The frequency in which the target date fund will be rebalanced.
20. Equity Allocation at Target Date: The vintage's allocation to equities at the target date. Generally, this is close but may not be exact to the vintage closest to the current year.
21. Equity Landing Point: The lowest ending equity % for the target date series. Generally, this is close but may not be exact to the Retirement or oldest vintage.
22. Equity Rolldown Begin Age: The age where the % of equity begins to decrease.
23. Equity Rolldown End Age: The age where the % of equity reaches it's lowest level.
24. Glidepath: Indicates if the target date series is managed to the target date or through the target date.
25. Glidepath Description: A description of the glidepath of the target date series.
26. Glidepath Equity Starting Point: The highest starting equity percentage for the target date series. Generally, this is close but may not be exact to the vintage farthest from the current year.
27. Glidepath Manager: The firm responsible for managing the target date series glidepath.
28. Glidepath Methodology: Describes the methodology used when establishing the glidepath.
29. Rebalancing Description: A description of how the target date series rebalance.
30. Rebalancing Method: The method which the target date series rebalances asset allocations.
31. Threshold Based Rebalancing: The threshold beyond the stated allocation that the asset class be rebalanced.
32. Equity Asset Class Management Style Description: Describes which equity asset classes the target date series prioritizes for active management style or passive management style, if applicable
33. Equity Management Style: The management style that will be prioritized in the target date asset allocation methodology for equities.
34. Equity Sub-asset-class Fund Types Used: The equity sub-asset-classes available in the target date series.
35. Fixed Income Asset Class Management Style Description: Describes which fixed income asset classes the target date series prioritizes for active management style or passive management style, if applicable.
36. Fixed Income Management Style: The management style that will be prioritized in the target date asset allocation methodology for fixed income.
37. Fixed-income Sub-asset-class Fund Types Used: The fixed-income sub-asset classes available in the target date series.
38. Guaranteed Income: Indicates if there is an allocation to an annuity component.
39. Private Credit: Indicates if there is an allocation to private credit investments.
40. Private Equity: Indicates if there is an allocation to private equity investments.
41. Private Real Estate: Indicates if there is an allocation to private real estate investments.
42. Proprietary Funds %: Percentage of proprietary investments in the target date series.
    1. Note: If % can vary by vintage, the maximum % is stated.
43. REITs: Indicates if there is an allocation to real estate investment trusts.
44. Retirement Income Vintage: Indicates if there is a target date vintage that includes the ability for income payments at retirement.  An example could be managed payouts.
45. Stable Value: Indicates if there is an allocation to stable value investments.
46. Tactical Asset Allocation Description: A description of the tactical asset allocation strategy in the target date series.
47. Tactical Asset Allocation Percentage: The percentage of assets allocated to be actively adjusting based on short-term market forecasts or economic conditions, aiming to capitalize on perceived inefficiencies or imbalances.
    1. Note: If % can vary, the maximum % is stated.  
48. Type of Annuity: The type of Annuity, if there is guaranteed income available.
49. Average Net Expense Ratio: The average expense ratio for the share class across all vintages.
50. Revenue Sharing: The amount of revenue sharing attached to the share class (12b-1 fees only).  
    1. Note: If revenue sharing can vary, the maximum revenue sharing is stated.
51. Investable Asset Minimum: The minimum assets needed to be available to qualify for the share class.