A growing number of younger 401(k) participants are investing in target-date funds, according to the Employee Benefit Research Institute.
Using data from the EBRI/ICI 401(k) database, EBRI found that the percentage of recently hired 401(k) participants, those with two or fewer years with their company, are holding TDFs increased from 43.6 percent in 2008 to 46.6 percent in 2009 and 47.6 percent in 2010.
As recently as 2006, the percentage of recently hired 401(k) participants holding TDFs was 28.3 percent.
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