Co-manufactured with T. Rowe Price and Benefit Trust Company, the new target-date series expands investment choices across Equitable retirement plans
Sep 15, 2026
New York – September 15, 2026 – Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced the introduction of the Retirement MilestonesSM T. Rowe Price Series, the first target-date investment option available through Retirement Milestones,SM a new series of collective investment trust (CIT) solutions in collaboration with strategic investment managers. The inaugural series is co-manufactured with T. Rowe Price, a global investment management firm and leader in retirement, and Benefit Trust Company, a leader in trustee and administrative services for CITs, and includes Equitable’s stable value fund.
A collective investment trust is a pooled investment, similar to a mutual fund. However, unlike mutual funds, CITs are maintained by a trust company, are available solely to qualified retirement trusts and tend to be more cost-effective than traditional mutual fund options. Today CITs are increasingly popular in defined contribution plans due to their efficiency and flexibility. In recent years, co-manufactured target-date CITs have surpassed mutual funds in market share, reaching $2.02 trillion of the $3.97 trillion target-date fund market as of year-end 2024.1
The Retirement MilestonesSM T. Rowe Price Series brings together complementary capabilities in a professionally managed, cost-efficient retirement investment solution that evolves with participants' needs over time. The TDFs in the series each include Equitable’s stable value fund as a component, where Equitable guarantees the principal and credited interest on assets invested in a fixed annuity contract. T. Rowe Price oversees the selection of investments and provides glidepaths for each TDF, while Benefit Trust Company acts as the trustee of each series.
By combining active and passive management with a thoughtfully designed structure, Retirement Milestones aims to deliver competitive performance while managing risk across market cycles, reinforcing Equitable's commitment to developing innovative retirement solutions for plan sponsors and participants.
The product is available exclusively within Equitable 401(k) and 457(b) retirement plans, serving as the qualified default investment alternative (QDIA) for the Equitable Retirement AccessSM 401(k) Pooled Employer Plan (PEP) and as an investment option across Equitable's Retirement Vision® and Retirement Gateway® 401(k) platforms.
Equitable, a principal franchise of Equitable Holdings, Inc. (NYSE: EQH), has been one of America’s leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves more than 4 million clients across the country. Please visit equitable.com for more information.
1 Sway Research, The State of the Target-Date Market: 2025, February 2025.
Reference to the 1859 founding applies specifically and exclusively to Equitable Financial Life Insurance Company. Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY); Equitable Financial Life Insurance Company of America (Equitable America), an AZ stock company with an administrative office located in Charlotte, NC; and Equitable Distributors, LLC.
IMPORTANT INFORMATION
The Retirement MilestonesSM T. Rowe Price CIT is a collective trust fund established and maintained by Benefit Trust Company (BTC) under a declaration of trust for investment solely by qualified retirement trusts and governmental plans. T. Rowe Price Associates, Inc., a registered investment adviser, serves as the sub adviser for the Retirement MilestonesSM trust series, serving institutional clients. T. Rowe Price, Equitable Financial Life Insurance Company (Equitable Financial) and Benefit Trust Company are not affiliated. T. Rowe Price and related indicators (see troweprice.com/ip) are trademarks of T. Rowe Price Group, Inc. T. Rowe Price Associates, Inc. is the advisor to the trust. Not a bank deposit and not insured or guaranteed by any bank, government entity, the FDIC or any other type of deposit insurance. You should carefully consider the investment objectives, risk, charges and expenses of the trusts before investing. BTC is a non-depositary trust company with operations in Overland Park, Kansas.
The Equitable Retirement AccessSM defined contribution program consists of a custodial account offered through Benefit Trust Company, as well as a group fixed annuity contract issued by Equitable Financial. Distributors: Equitable Distributors, LLC and Equitable Network, LLC (Equitable Network Insurance Agency of California, LLC; Equitable Network Insurance Agency of Utah, LLC; Equitable Network of Puerto Rico, Inc.). All guarantees associated with the fixed annuity are based on the claims-paying ability of Equitable Financial. Equitable Financial and Equitable Distributors: 1345 Ave. of the Americas, NY, NY 10105. A Retirement Gateway® annuity contract is a group flexible premium combination fixed and variable deferred annuity issued by Equitable Financial. Co-distributed by affiliates Equitable Advisors, LLC (member FINRA, SIPC) and Equitable Distributors, LLC. The Equitable Retirement Vision® defined contribution program consists of a custodial account offered through Benefit Trust Company, within which plan participants’ chosen mutual fund shares are held, as well as a group fixed annuity contract issued by Equitable Financial. Distributed by Equitable Distributors, LLC (NY, NY). Investments are subject to investment risks, including possible loss of the principal invested. They are not insured by the Federal Deposit Insurance Corporation nor are they deposits to, obligations of, or guaranteed by any bank.
About Benefit Trust Company:
Benefit Trust Company (“BTC”) was formed with the single-minded fiduciary focus of delivering services to corporations, institutions and executives. Our core offerings include sponsoring CITs, custom benefit plans, trustee and custodial services, trading platforms, portfolio unitization, investment management, and collective trust services. We ensure the proper blend of comprehensive delivery and security of assets through custody, trust and transaction services combined with the knowledge and dedication of world-class professionals. BTC is a privately held Institutional Trust company, founded in 2002. Since inception, we have excelled in every aspect of the trust business. With expertise to handle the ordinary and flexibility to create the extraordinary.
GE-9069944.1 (08/2026) (Exp. 08/2030)
