PIMCO myTDF will use Morningstar Investment Management’s retirement platform to connect directly with recordkeepers
PIMCO, one of the world’s premier fixed income investment managers, has teamed up with the retirement group within Morningstar Investment Management LLC, a subsidiary of Morningstar, Inc., to enable PIMCO to provide a personalized target date solution, myTDF™ to participating 401(k) plans and other types of retirement plans.
Powered by Morningstar Investment Management’s user interface and network of data integrations with recordkeepers, myTDF will incorporate factors such as an individual’s age, salary, assets, savings rate, and company match rate to assign more personalized investment allocations for individuals.
Retirement planning can often be complicated and daunting, especially during periods of uncertainty. PIMCO’s myTDF will use data already accessible through employer-sponsored retirement plans so that even the most disengaged saver can receive a customized solution.
“myTDF aims to be a new default retirement solution for 401(k) plan participants,” said Rene Martel, PIMCO’s Head of Retirement. “Through myTDF’s automated personalization, we can bring a more precise and tailored target date solution to all participants, including to those who are not actively involved in managing their retirement savings.”
“We’ve effectively built the chassis that enables PIMCO to position more workers to pursue their retirement goals through the power of personalization,” said Brock Johnson, president of Global Retirement and Workplace Solutions at Morningstar Investment Management. “That chassis incorporates years of building an extensive network of data connections and recordkeeper pipelines that are now allowing us to find new ways to better help more people and drive innovation in the retirement industry.”
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