A growing number of recently hired participants in 401(k) retirement plans, particularly those in their 20s, are investing in target-date funds, according to an analysis by the nonpartisan Employee Benefit Research Institute.
EBRI finds that the percentage of 401(k) participants — those with two or fewer years of tenure — holding TDFs increased from 43.6% in 2008 to 46.6% in 2009, and to 47.6% in 2010. New hires in their 20s are especially likely to hold TDFs: 52% of them did so in 2010, compared with 41.7% of recent hires in their 60s.
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