PLANADVISER - July/August 2020 - 3

Choice and Simplicity
Interview with Sandy McCarthy
Published in August 2020 | Sponsored by OneAmerica®
ONEAMERICA® RECOGNIZES that one size does not fit all
when it comes to retirement preparation. A continued commitment
to product innovation and customization is
at the core of
RetirementTrack, a new, user-friendly investment option that
pairs personal choice and individual needs with traditional target
date funds. PLANADVISER recently spoke to Sandy McCarthy,
Retirement Services president at OneAmerica, an organization
that can trace its history in the financial services industry back
more than 140 years.
PA: What are the details of RetirementTrack?
Sandy: RetirementTrack, which became available at the
beginning of June, is a multi-glidepath approach to target date
funds. RetirementTrack goes beyond simply looking at age and
retirement date and uses three glidepath options (conservatively
managed, moderately managed, or aggressively managed) to
allow participants to further customize by risk tolerance.
Created through a collaboration of industry pioneers (BlackRock,
flexPATH Strategies, LLC, and Wilmington Trust), RetirementTrack
adheres to U.S. Department of Labor fiduciary guidelines and
is available exclusively to OneAmerica customers through a
collective investment trust (CIT) structure that allows for cost
competitiveness. The inclusion of a stable value asset class helps
manage market volatility.
PA: How did you come up with RetirementTrack?
Sandy: RetirementTrack really speaks to our foundational belief
in the importance of customization. No two participants are alike,
and the solutions we offer need to reflect that. RetirementTrack
gives participants options so that they can make the best choices
for their unique situation, income, age or risk tolerance.
PA: What are the benefits of expanding beyond a one-sizefits-all
equation?
Sandy: Traditional Target Date Funds (TDFs), while a great choice
for many people, can be limited by the fact that they only tie asset
allocation to age and retirement date. An individual's risk tolerance
is a big piece of the equation, but one that's sometimes neglected
with a traditional TDF. With RetirementTrack, risk tolerance
gets the consideration it deserves, and allows participants more
options than the standard 'one size fits all' approach they may be
used to. At the heart of it all is providing participants with options
that go beyond cookie cutter. Our goal is to put participants on
the path to reach their unique goals, which requires us to offer
products with an out-of-the-box, individualized mindset.
PA: Does RetirementTrack offer any other benefits for
participants?
Sandy: Yes. Though some participants are comfortable with investing,
others find investment allocation challenging, especially when it
comes to choosing the options that best align with a participant's
individual goals and comfort in the market. RetirementTrack takes
the guess work out of the equation and provides a user-friendly
way for participants to assess their situation and take action. On
top of that, the product is supported by recognized providers and
combined with the AUL Stable Value Account from OneAmerica
to help mitigate market risk.
PA: How do fiduciaries ensure they are meeting their
responsibilities when choosing a Qualified Default Investment
Alternative (QDIA)?
Sandy: Now more than ever, fiduciaries need a way to help protect
them when it comes to selecting what's right for their participants.
RetirementTrack, as a custom target date solution, meets the
risk mitigation criteria necessary to be offered as a QDIA. It's
non-proprietary, offers best-practice options, choice, and includes
cost efficiencies.
PA: What would entice advisors to look at this?
Sandy: Plan advisors and sponsors will recognize providers they
know and will be drawn to the impartiality of this investment option
that addresses risk and asset allocation. At the end of the day,
participants, sponsors and advisors don't just want what's better
than the others, they simply want what is better for them. n
Products issued and underwritten by American United Life Insurance
Company® (AUL), a OneAmerica company. Administrative and
recordkeeping services provided by McCready and Keene, Inc. or
OneAmerica Retirement Services LLC, companies of OneAmerica
which are not broker/dealers or investment advisors. Provided content
is for overview and informational purposes only and is not intended
and should not be relied upon as individualized tax, legal, fiduciary, or
investment advice.
The AUL Stable Value Account (SVA) is a group fixed annuity, issued
by American United Life Insurance Company® (AUL), a OneAmerica
company, One American Square, P.O. Box 368, Indianapolis, IN 462060368,
1-800-249-6269. Investing involves risk which includes potential
loss of principal.
BlackRock, flexPATH Strategies, LLC, and Wilmington Trust are not
affiliates of any OneAmerica company.
OneAmerica®
is the marketing name
for the companies of OneAmerica.
To learn more about our products, services
and the companies of OneAmerica, visit
oneamerica.com/companies.
SPONSORED SECTION
http://www.oneamerica.com/companies
PLANADVISER - July/August 2020

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