The needs of DC plan participants change and evolve over time: A single target-date fund (TDF) might serve them well early on, but other options may be more appropriate later on or as circumstances change.
The good news is that the evolving and diverse needs of changing DC populations can be addressed with two complementary options in your plan's investment menu that span the retirement-savings spectrum—TDFs and managed accounts. In A powerful combination: Target-date funds and managed accounts, authors Cynthia Pagliaro and Stephen Utkus, Vanguard Center for Retirement Research, explain how this combination can work for all your plan participants, with TDFs as an investment fundamental and plan cornerstone, complemented by managed accounts that offer customized portfolios to meet specific individual needs.
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