Only 13 per cent got information from an adviser not connected with the plan. • About 40 per cent of plans did not evaluate each target-date fund when adopting a new target-date series, even when nearly all believed that they should. • The majority of plan sponsors offered only single-manager target-date funds, yet three-quarters believed multimanager products were a better choice. The Janus report concludes: “If target-date funds are to become the preferred retirement investment vehicle for defined contribution plan participants, every key stakeholder in the industry – plan sponsors, record keepers, funds managers, consultants, advisers and regulators – must share responsibility in addressing these challenges and furthering education to help [investors] achieve more successful retirement outcomes.”

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