Greenspring Wealth Management, Inc., announced Feb. 3 the launch of Target Date (k)larity®, an evaluation tool to help DC plan fiduciaries and committees choose the most appropriate TDF strategy for their participants and to help fulfill their fiduciary duties.
Target Date (k)larity® is a comprehensive three-phase, seven-step target date evaluation process that aligns closely with Department of Labor guidance from 2013, according to Greenspring. Phase 1 begins by identifying the goals and needs of the plan and assessing participant demographics such as age, salary and tenure, as well as participation and deferral rates. In phase 2, Greenspring uses the information gathered in the first phase and then conducts extensive product due diligence on multiple TDF options by analyzing areas such as asset class exposure, glide path construction, performance, risk vs. return and fees. Finally, in phase 3, Greenspring makes a TDF recommendation and documents the entire process with a written executive summary and 25+ page recommendation report.
More information about Target Date (k)larity® is available here.
