Russell Investment Group formed Russell Retirement Services, which will deliver Russell's lifecycle funds directly to DC plan sponsors and financial advisers, according to a news release. The new group is led by Matt Smith, managing director, retirement services. He has headed Russell's DC plan services for several years and will continue those duties.
Russell also is launching Class R shares for its LifePoints Target Portfolio and Target Date Funds, which will be available to DC plans beginning March 1. Russell representatives did not return calls for details by press time.