Better managing retirement: NY Times article featuring non-profit where I volunteer
Thanks to writer Tim Gray for a terrific NY Times article on Target Date Retirement Funds. I chair two committees and do lots of volunteer work for Hebrew Senior Life. Deb Lemmerman, who’s profiled in the article, is HSL’s VP of Human Resources. Seeing her comments are particularly exciting, as I also served on a separate search committee which ultimately hired her.
Here’s a clip from Tim’s article:
Employees just pick a fund based on their expected retirement year; typically, the funds are offered in five- or 10-year increments: 2015, 2020, 2025 and so forth. The fund’s manager then adjusts the underlying investments as that year approaches, typically decreasing the portion of stocks and increasing the portion of bonds and other kinds of investments.
As an adage in the mutual fund industry goes, a shareholder in a target-date fund can just set it and forget it.
And here’s some background on Hebrew Senior Life:
Hebrew Senior Life is the largest provider of elder care in the Boston metropolitan area. Founded in 1903, it is an affiliate of Harvard Medical School, and is a nonprofit, non-sectarian organization devoted to innovative gerontology and geriatric research, senior health care, long-term nursing home care, and Greater Boston senior housing communities that improve the lives of older adults. From independent living to assisted living, Hebrew SeniorLife provides retirement communities in Massachusetts that are designed to help older adults live healthy independent lives.
