Use of TDFs increasing among younger employees

TDF, target date — Image credit: © Flynt | Dreamstime.com

BofA found the use of target-date funds is significant—and increasing, especially among younger employees. Millennials have almost twice the amount of money invested in TDFs as Boomers.

Some other interesting TDF stats from the study? When they are offered, more than eight in 10 employees invest in TDFs, and often invest their full account balance. The percentage of BofA recordkept 401k plans offering TDFs increased from 56% in 2020 to 60% in 2021.

NEXT PAGE: Auto features drive positive 401k engagement

Previous page 1 2 3 4 5 6 Next page

Author

Brian Anderson

Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.