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SMARTPath Retirement Funds

choose your retirement date

Save Money and Retire Tomorrow

simple to invest

Each SMARTPath Retirement Fund has a date in its name. We call this the "target date," the approximate year when you expect to retire and begin withdrawing from your account.

a mix that changes with your needs

As you move closer to, and eventually into retirement, your Fund automatically adjusts to a more conservative mix of investments.

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built-in diversification

With a SMARTPath Retirement Fund, you're spreading your dollars across the many different investment options that make up the fund.

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professional management

AllianceBernstein L.P. (AB) designed the SMARTPath Retirement Funds with the unique needs of the SMART Plan's participants in mind.

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What Are Target-Date Funds?

A target-date fund typically has a date in its name; this is called the fund’s target date. The target date is the approximate year when you expect to retire (assuming a retirement age of 65) and begin withdrawing from your account. A target-date fund adjusts its investments over time. If you’re in your early working years, the emphasis of the fund is on growth to build savings. As you move toward retirement, the investments of the fund gradually evolve, becoming more conservative to help protect against market fluctuations—and it all happens automatically.

target-date funds provide an investment strategy that lasts a lifetime

1

Choose the date you expect to retire.

Person thinking about the future

2

The funds will invest in a mix of investments, including bonds (fixed income), stocks (equities) and diversifiers, and automatically adjust them over time.

Recycling a mix of investments

3

You have reached retirement. You may now start to withdraw cash to live on while your remaining savings continue to be invested throughout your retirement.

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A Simple Way to Invest for Retirement

SMARTPath Retirement Funds make it simple for you to invest for retirement. Each Fund has a date in its name; we call this the Fund's target date. The target date is the approximate year when you expect to retire and begin withdrawing from your account.

it's easy to pick your retirement date

First, take the year you were born. Then, add the age you expect to retire and you'll have an estimate of your target retirement date. Just select the SMARTPath Retirement Fund closest to that date, and invest for your future. If you change your expected retirement date, you can always transfer your money to a SMARTPath Retirement Fund that's a closer match to your revised retirement date.

the year you were born

+

age you think you'll retire

=

your estimated retirement date

Select Your Corresponding Retirement Date Range:

SMARTPath Retirement Fund

Investments in SMARTPath Retirement Funds are not guaranteed against loss of principal: at any time, your account value can be more or less than the original amount you contributed, including at the time of the Fund's target date. Also, investing in a SMARTPath Retirement Fund does not guarantee sufficient income in retirement.

*SMARTPath Retirement Allocation Fund. This Fund is intended for retired investors whose SMARTPath Retirement Fund has reached its final asset allocation of 22.50% stocks, 7.25% diversifiers and 70.25% bonds—15 years after its target date.

Quarterly target allocations in effect as of the first quarter of 2024.

A Mix That Changes Over Time

Please swipe to view the complete data.

Investments Graph

Asset Allocations
Over Time by Age†

Young Saver Midlife Saver New Retiree Senior Retiree
20 25 30 35 40 45 50 55 60 65 70 75 80 85+
Large Company Stock Index Fund 45.00% 45.00% 45.00% 45.00% 45.00% 43.00% 38.25% 33.50% 29.75% 25.75% 22.50% 18.50% 13.50% 13.50%
Small Company Stock Index Fund 14.00 14.00 14.00 14.00 14.00 12.75 11.50 9.50 7.50 6.50 4.75 3.75 2.25 2.25
International Stock Index Fund 31.75 31.75 31.75 31.75 31.75 28.75 24.50 20.25 16.75 13.75 11.75 9.50 6.75 6.75
Real Estate (REIT) Fund 4.25 4.25 4.25 4.25 4.25 3.25 2.75 1.50 1.50 1.50 1.25 1.25 1.25 1.25
Private Real Estate Fund 0.00 0.00 0.00 0.00 0.00 1.50 2.50 3.50 3.50 3.50 3.25 2.75 2.75 2.75
SMART Real Return 0.00 0.00 0.00 0.00 0.00 3.75 5.00 5.75 5.75 5.75 5.00 4.25 3.25 3.25
High Yield Bond Fund 0.00 0.00 0.00 0.00 0.00 1.25 2.50 3.50 3.75 2.75 1.50 0.00 0.00 0.00
Emerging Market Bond Fund 0.00 0.00 0.00 0.00 0.00 0.75 1.50 2.25 2.25 1.25 0.25 0.00 0.00 0.00
Unconstrained Bond Fund 0.00 0.00 0.00 0.00 0.00 0.00 2.75 3.25 4.25 4.50 5.00 5.25 5.25 5.25
Core Plus Fixed Income 5.00 5.00 5.00 5.00 5.00 5.00 8.75 12.00 14.00 18.75 18.75 18.75 19.00 19.00
Treasury Inflation Protection Securities (TIPS) Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.00 11.00 16.00 16.00 16.00 16.00 16.00
SMART Capital Preservation Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.00 20.00 30.00 30.00

Please swipe to view the complete data.

† This chart does not represent any particular SMARTPath Retirement Fund. It is meant to show how the investment mix changes over a lifetime.

Built-In Diversification

You've heard about the importance of diversification when saving for retirement. Each SMARTPath Retirement Fund includes a diversified blend of investments that spread your money across the many different investment options that make up the fund, including stock, bond and diversifier funds. By spreading your money across these different investment types, you get access to a broad range of investments that help manage the portfolio's overall risk. While diversification is important, it doesn't ensure that your investments will grow or protect against a market downturn.

SMARTPath Retirement Funds change with you over time. You don't have to constantly monitor your account and make changes to your investment mix as you get closer to retirement because each fund gradually shifts to a more conservative approach—automatically. The Funds start out focused on long-term growth, invested primarily in stocks. As the retirement date gets closer, and continuing for 15 years beyond the date, they gradually adjust their investment mix. By the time you move into retirement, your Fund will be more focused on protecting principal and generating income.

Investments in SMARTPath Retirement Funds are not guaranteed against loss of principal. At any time, your account value can be more, or less than the original amount you contributed, including at the time of the Fund's target date. Also, investing in a SMARTPath Retirement Fund does not guarantee sufficient income in retirement.
Diversification Infographic

Professional Management

The Office of the State Treasurer and Receiver General has selected AllianceBernstein L.P. (AB) to help manage the Massachusetts Deferred Compensation SMART Plan's series of custom target-date funds. In this role, AB designs, monitors and actively manages the asset allocation and glide path of the SMARTPath Retirement Funds. The investment portfolios underlying the SMARTPath Retirement Funds are managed by several investment providers and were selected by the Office of the State Treasurer and Receiver General.
UNDERLYING INVESTMENT COMPONENT Investment Manager Management Style
Large Company Stock Index Fund State Street Global Advisors Passive
Small Company Stock Index Fund State Street Global Advisors Passive
International Stock Index Fund State Street Global Advisors Passive
Real Estate (REIT) Fund J.P. Morgan Asset Management
State Street Global Advisors 		Active
Passive
Private Real Estate Fund J.P. Morgan Asset Management  Active
SMART Real Return Fund GMO  Active
High Yield Bond Fund Eaton Vance
Nomura Asset Management 		Active
Emerging Market Bond Fund Prudential Trust Company Active
Unconstrained Bond Fund Reams Asset Management Active
Core Plus Fixed Income Loomis Sayles Active
Treasury Inflation Protection (TIPS) Index Fund State Street Global Advisors Passive
SMART Capital Preservation Fund Goldman Sachs Asset Management
Wellington Management
IR+M
Loomis Sayles 		Active

Please swipe to view the complete data

Start Now

Not yet saving in the plan icon

If you're not yet saving
in the Plan

If you think a SMARTPath Retirement Fund
is right for you, simply:

  1. Visit www.mass-smart.com to enroll in the Plan.
     
  2. Pick your retirement date and select the SMARTPath Retirement Fund closest to that date.
  3. Direct your investment elections to your SMARTPath Retirement Fund.
  4. Relax, knowing your investments will automatically evolve over time.
start now
Already saving in the plan icon

If you're already saving
in the Plan

To take advantage of the SMARTPath Retirement Fund,
simply:

  1. Pick your retirement date and select the SMARTPath Retirement Fund closest to that date.
  2. Direct your investment elections to your SMARTPath Retirement Fund.
  3. Transfer your current balances into your SMARTPath Retirement Fund.
  4. Relax, knowing your investments will automatically evolve over time.
transfer funds
Before investing for retirement, there are many factors to consider, including your time horizon, retirement needs, goals and assets (income and investments outside of those in your employer-sponsored retirement plan).

SMARTPath Retirement Funds' underlying investments include international companies, which involve such risks as currency fluctuations, economic instability and political developments. The strategies also invest some of their assets in small and midsize companies. Such investments increase the risk of greater price fluctuations. In addition, the strategies have a portion of their assets in bonds. Investments in bonds are subject to interest-rate risk, credit risk and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds have more exposure to interest-rate risk than short-term bonds. Lower-rated bonds may offer higher yields in return for more risk. As with all investments, there is a risk of not meeting your retirement income needs. Because the SMARTPath Retirement Funds are managed to specific retirement dates, you may be taking on greater risk if your actual year of retirement differs dramatically from what you estimated.

Each SMARTPath Retirement Fund is a daily-priced separate account that invests in a set of underlying investment options. Separate accounts are not registered mutual funds and interests in the SMARTPath Retirement Funds are not deposits of AllianceBernstein Trust Company, LLC or AllianceBernstein Investments and are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency. The SMARTPath Retirement Funds have not been registered under the Securities Act of 1933 and are exempted from investment company registration under the Investment Company Act of 1940. Therefore, Participating Plans and their Participants will not be entitled to the protections under these Acts. Management of the AB Target Date Funds, however, is generally subject to the fiduciary duty and prohibited transaction rules under the Employee Retirement Income Security Act of 1974, as amended (ERISA). AllianceBernstein L.P. is the asset allocation provider and manager. The investment portfolios underlying the SMARTPath Retirement Funds are managed by a number of investment providers selected by SMARTPath Retirement Funds.

Past performance does not guarantee future results. You should consider the investment objectives, risks, charges and expenses of the SMARTPath Retirement Funds carefully before investing.

© 2023 AllianceBernstein L.P.