It’s a debate that has dragged on for years and now BlackRock has issued a white paper in which it officially weighs in: “to” target-date funds are preferable to “through” TDFs, it says.

“It is BlackRock’s position that a persuasive common-sense case can be made for the ‘to fund’ approach based on an understanding of human capital, or the ability to earn income, which is depleted at retirement, and retirement risk, which we argue is at its highest level the day retirement begins,” wrote Ted Daverman, vice president, U.S. Retirement Group, and Matthew O’Hara, managing director, U.S. Retirement Group.

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