FILE PHOTO: The logo of T. Rowe Price Group is pictured at its office in Tokyo, Japan, January 13, 2017. REUTERS/Toru Hanai/File Photo
Target-date funds are popular in 401 plans because they do the work of allocating worker and employer retirement contributions into stocks and bonds. Funds with distant retirement dates typically allocate about 90% of their portfolios to stocks, with that percentage declining as retirement nears. The company also said it would boost stock allocations for investors in their retirement years. The final allocation, 30 years past retirement, would be 30% stocks, up from the current level of 20%, the company said.
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