Panel Discussion: Investment-Related Issues —Target Date Funds as QDIAs; Which Glidepath is Right...

Partner Conference 2014

Target Date FundsPanelists:

John Doyle - American Funds | Jerome Clark – T. Rowe PriceMatthew Brancato – Vanguard | Moderated by: Gregory Woods – BPAS

Partner Conference 2014

Agenda

I. Introduction of Panelists

II. Brief description of Panelist funds

a. Ideology behind the allocation and glidepath

b. Equity Exposure at 65 years old

c. Asset Mix at Landing Point

d. Asset Allocation Decisions

Partner Conference 2014

Agenda

III. Differentiation and Diversificationa. Tactical vs Strategic and Active vs Passive

b. Fixed Income Exposure throughout Glidepathi. Where is the Income being generated? Risk?ii. Diversification – Foreign/EM Debt? High Yield?

IV. Critical Nature of Getting these Funds Righta. ~70% of retirement asset flows will be to TDFs by 2016b. Safeguards in case ’08 -’09 happens againc. What Innovations/Changes On the Horizon

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American Funds Target Date Retirement Series

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T. Rowe Price Retirement Series

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Vanguard Target Retirement Series

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Questions?

Partner Conference 2014

Contact

Greg WoodsBPASgwoods@bpas.com

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