Every day for the next 20 years, 10,000 baby boomers will turn 65 and many of them will be unprepared to retire. To help these individuals address this challenge, the retirement and investment management businesses of Prudential Financial, Inc. (NYSE:PRU), are delivering their Day One Funds with a renewed focus on engaging plan participants through the company’s suite of Qualified Default Investment Alternative (QDIA) eligible retirement planning products. The Day One name leverages the success of the company’s Day One advertising campaign aimed at inspiring plan participants to think about their day one of retirement and share their stories. Based on proprietary research, the average American life expectancy is estimated to be 83 years by 2050. This increased life expectancy brings with it the challenge of funding retirements that can last 30 years or more. As a result, the funds are modeled with the assumption that participants may live to 95. “Now more than ever before, American workers need solutions that help them reach their ‘Day One’ of retirement confident that they will have the income they need for all the days that follow,” said Jamie Kalamarides, senior vice president, Institutional Investment Solutions, Prudential Retirement. “The funds are an example of Prudential’s commitment to help address the complexity of retirement planning.” Issued by Prudential Retirement Insurance and Annuity Company, the Day One Funds will be available to eligible retirement plans and are based on the analysis of real savings rates and employer contributions from 850,000 plan participants. The funds feature a competitive glide path designed to help improve investment return potential in early years, and then shift allocation to help manage risk as participants move toward and beyond retirement. The glide path begins with a 97 percent allocation to U.S. and international equities, commodities and real estate to provide for potential growth. As the participant ages and nears the Retirement Red Zone ®—the 10 years before and after retirement—exposure to equities decreases and the funds significantly shift to more conservative investments. The exposure to equities continues to decrease during retirement and the asset allocation stabilizes 10 years after the target date at 26% equities, 9% commodities and real estate and 65% fixed income. “The Day One Funds represent a target date fund strategy that seeks competitive returns while helping protect against market risk through diversification,” said Michael Rosenberg senior vice president, Prudential Investments. “We understand the challenges and complex choices participants face with investing for retirement. In response, we’re developing tools designed to engage plan participants in a meaningful way to help humanize these important investment decisions,” he added.