The ABA Retirement Funds Program has been serving the retirement needs of the legal community for over 50 years. In 1963, the ABA Retirement Funds Program ("the Program") was established to offer unique retirement solutions exclusively to the legal community. The Program encourages lawyers to save and plan for retirement and leverages its size to bring together premiere service providers.
As one of the longest standing member benefits affiliated with the American Bar Association, the Program helps more than 38,000 legal professionals meet their retirement needs. The Program is committed to offering a low cost, flexible, and comprehensive retirement plan solution that meets the oversight, investments, and service needs of law firms.
Mercer Trust Company, who is the investment fiduciary for the Program, has provided some general commentary related to the current market volatility.
- Markets have been unusually volatile so far in 2016 – resulting from a number of factors:
- We are currently experiencing a 10% U.S. stock market correction within the past year – and some pockets of the equity market have done worse, particularly economically sensitive sectors, such as materials and energy. Market corrections are not unusual. Mercer, the investment fiduciary, has not made any changes to the underlying Funds in which you can invest.
- Mercer’s guidance for investors is they may want to review their portfolios to make sure they still reflect their target asset allocations and goals.
Please visit the Investment Advice page under Program Investments, above, for more information on the advisory services offered by Voya Retirement Advisors.
The Program recently issued restatement packages to all plan sponsors who have adopted the Program’s master prototype. The Adoption Agreement should be executed no later than April 30, 2016. For more information, please refer to the instructions that were included with the package, and you may also access our Frequently Asked Questions here.
We are pleased to inform you that a Glossary of Investment Terms has been added to the Program's website. The glossary is intended to assist Program participants, beneficiaries, and those eligible for the Program, better understand the Program's investment options. To access the glossary click here.
View a recording of our latest webinar: Legislative and Regulatory Update