Aviator includes Payden/Kravitz Cash Balance Plan investment option, an institutionally managed investment strategy
The Hartford Financial Services Group (Hartford) has introduced Aviator Cash Balance Program (Aviator). The program is designed for businesses and professional practices that want to enhance retirement benefits, while potentially reducing their taxable income.
The Aviator includes the Payden/Kravitz Cash Balance Plan investment option. Its an institutionally managed investment strategy developed for cash-balance plans, that seeks to track to the 30-year Treasury Securities Interest Rate. In addition, a selection of more than 170 investment choices from well-known fund families are available, including stable value, money market, and equity and bond investment options.
Jamie Ohl, Senior Vice President and Director of Retirement Plans Group, Hartford, said: “The Hartford’s new Aviator can help business owners and professional entities turbo charge their retirement savings and overcome the many hurdles to enjoying a comfortable retirement.”
The company stated that the Aviator is administered using Bluefin, a proprietary pension software platform, that allows for unlimited online benefit calculations. It is designed to complement a 401(k) defined contribution program, allowing small businesses and professional entities to fund a plan that may generate as much as $195,000 in annual retirement income.