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Board to continue using American Funds as Target Date Manager; will revisit in a year
Summary
Following a Hyas Group review, the board agreed to continue American Funds as the Target Date Manager and requested the manager-search be repeated in one year; no formal action was required.
Hyas Group presented the results of a Target Date Manager search and recommended continuing with American Funds as the plan’s Target Date Manager. After discussion the board agreed with the recommendation and requested the search be conducted again in one year. No formal vote or action was required on this agenda item.
The board’s request for a follow-up search establishes a one-year review cycle for target date management to ensure ongoing evaluation of performance and participant costs.
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