Kudos to Envestnet for documenting the heart of the problem in defined contribution plans: Participants don't understand their options (Target-date funds are misunderstood, May 4).
The intent of QDIAs is to protect the unknowing from foolish choices, but target-date funds have failed to deliver on this intent because they are a reasonably good idea with awful execution, at least so far.
Please see my March 17, 2008, P&I commentary, The good, bad & ugly of target-date funds. I told you so, months before this mess began.
President, PPCA Inc.
Principal, Target Date Analytics LLC
San Clemente, Calif.