Retirement
Get the Advice You Need With OnTarget
OnTarget is a personalized, professionally managed approach to saving and investing. With OnTarget, you can turn over your investment decisions to professionals from Morningstar and New York Life who will select your funds and rebalance them periodically to help keep you in line with your goals. Want the experts to help you save and invest in your 401(k) plan?
You could expect to pay a personal financial advisor from 1.5% to 2% or more of your account balance per year for this type of service. OnTarget is less than one-third the cost. For example, a participant with a $100,000 balance would pay about $38 a month for the comfort of knowing professionals are making all the investment decisions.
Highlights of OnTarget
- Create a personalized retirement savings strategy just for you
- Select a suitable mix of funds
- Periodically rebalance your investment mix to keep your strategy on track
- Evaluate and change your strategy as your needs and goals evolve
- Provide updates on ongoing account activity and give you annual progress reports
- Take a Tour of OnTarget
Fees
OnTarget fees are withdrawn from accounts on a monthly basis. For example, here are monthly fees for sample account balances:
| Account Balance | Monthly Fee |
| $1,000 | $0.42 |
| $10,000 | $4.17 |
| $60,000 | $24.17 |
| $100,000 | $37.50 |
| $250,000 | $75.00 |
| $500,000 | $82.29 |
| $750,000 | $123.96 |
| $1,000,000 | $200.000 |
The fees are calculated based on the following schedule:
| Account Balance | Annual Rate |
| The first $0 to $50,000 | 0.0050 |
| The next $50,000 | 0.0040 |
| The next $150,000 | 0.0030 |
| All assets above $250,000 | 0.0020 |
To enroll in OnTarget, log in to your account at mylife.newyorklife.com. From the My Investments tab, click on "Investment Election Change" in the "View/Change My Investment" drop-down box.
For more information about OnTarget, call 1-800-294-3575. New York Life Retirement Plan Services Participant Service Center Representatives are available Monday through Friday from 8 a.m. to 10 p.m. (Eastern) on New York Stock Exchange business days. To access your account online, log on to mylife.newyorklife.com.