The SEC is working to help mutual fund companies customize prospectuses for the burgeoning 401(k) plan market, said Robert Plaze, associate director of the agency's investment management division. The SEC is looking at about 40% of the information now in prospectuses that is irrelevant to those who invest in mutual funds through employer-sponsored retirement programs, Mr. Plaze said. The SEC also is examining whether to ask mutual fund companies to add information that would let investors determine if the funds are appropriate for their goals.
``There is some concern here that people are funding their retirement with money market funds,'' Mr. Plaze commented.
