The Hartford Mutual Funds Family Expands Target Retirement Funds Lineup For Retirement Plan Customers

The number of The Hartford Target Retirement Funds available in The Hartford Mutual Funds Family has expanded from three to nine. The Hartford Target Retirement Funds are available through defined contribution retirement plans offered by The Hartford Financial Services Group, Inc. (NYSE: HIG).

Target date funds are typically a series of investment portfolios actively managed to a specific target year closest to the expected retirement date of the investor. As the target retirement date approaches, the portfolios move towards more conservative asset allocations.

The Hartford Target Retirement Funds now feature nine target date funds spaced five years apart between 2010 and 2050. Each fund is organized as a fund of funds that is actively managed and invests in other funds in The Hartford Mutual Funds Family.

"We are expanding the number of target date funds that we offer to defined contribution retirement plan sponsors and their participants to help meet the long-term needs of retirement investors,” said Jamie Ohl, senior vice president and director of The Hartford’s Retirement Plans Group. "Target date funds continue to grow as the investment of choice for retirement-oriented investors.”

The Hartford Target Retirement Funds are available through The Hartford’s 401(k), 457 and 403(b) retirement programs. The Hartford’s Retirement Plans Group also offers two other suites of target date funds through its 401(k), 457 and 403(b) retirement programs: Barclays Global Investors LifePath^® Portfolios and Alliance Bernstein Retirement Strategies.

"The Hartford Target Retirement Funds offer an investment glide path that annually adjusts each portfolio’s asset allocation to address an investor’s age and target retirement date,” said Hugh Whelan, managing director for Hartford Investment Management Co., which manages the target date funds. "A proprietary model adopted by The Hartford focuses on ‘real life’ experiences taking into account circumstances the typical investor in this age group would face, considering variables such as average contribution rates, the retirement target, the percentage of income needed to be replaced in retirement, the payment of Social Security retirement income benefits, taxes and mortality,” he said.

"We believe our unique approach to constructing and actively managing target date portfolios creates an attractive allocation over time to help meet our investors’ goals,” Whelan said. "The Hartford Target Retirement Funds rely on a highly precise allocation modeling process that ultimately helps us build a better glide path for our investors. The goal of The Hartford Target Retirement Funds is to help make the journey towards retirement as smooth and as rewarding as possible.”

The U.S. Department of Labor in 2006 identified target date funds as an eligible default investment within defined contribution plans. Target date funds are an easier-to-understand investment vehicle that fits the needs of a majority of plan participants, according to Ohl.

The availability and use of target date funds grew to 33.4 percent of 401(k) and profit-sharing plans in 2007, up from 24.9 percent in 2005, according to the Profit Sharing Council of America. The average allocation of retirement plan assets within target date funds reached 4.1 percent in 2007, up from 2.6 percent in 2005, the PSCA reported. And Cerulli Associates, a Boston-based research firm, predicts more than $1 trillion will be invested in target date funds by 2013.

The Hartford is publishing education materials to make it easier for retirement plan participants to understand target date funds, determine if they are appropriate for their individual investment goals and risk tolerance, and ultimately select an appropriate fund. New educational materials, including an "Easy Enrollment” form, are now available to retirement plan sponsors and participants. The materials explain the different target date funds available through The Hartford’s retirement programs and then allow participants of retirement plans to select which fund makes the most sense for them, including proprietary and non-proprietary funds.

"When it comes to retirement planning, The Hartford firmly believes in the importance of education and choice,” Ohl said. "We are raising the bar when it comes to education as evidenced by our recent Eddy Awards for developing participant education materials. And we are making more choices available by expanding the number of target date funds we offer.”

About The Hartford

The Hartford is one of the nation's largest financial services companies and a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is www.thehartford.com.

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You should carefully consider investment objectives, risks, charges, and expenses of The Hartford Mutual Funds before investing. This and other information can be found in the Fund's prospectus which can be obtained by calling 888-843-7824 or by visiting www.hartfordinvestor.com. You should read it carefully before they invest or send money.

Asset Allocation Funds do not assure or guarantee better performance and cannot eliminate the risk of investment loss. Before investing, you should carefully read the applicable volatility disclosure for each of the Underlying Funds, which can be found in the current prospectus. Also, keep in mind that asset allocation doesn’t protect against loss or ensure a profit.

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

The Hartford Mutual Funds are underwritten and distributed by Hartford Investment Financial Services, LLC and Hartford Securities Distribution Company, Inc.

"The Hartford” is The Hartford Financial Services Group, Inc. and its subsidiaries, including the issuing companies of Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company. PLANCO is a member of The Hartford Financial Services Group, Inc. Hartford Investment Management Company is a subsidiary of Hartford Financial Services Group and the sub-advisor to several of the Hartford Mutual Funds. The Hartford Mutual Funds are underwritten and distributed by Hartford Investment Financial Services, LLC. a broker/dealer affiliate of The Harford Financial Services Group, Inc.