More sponsors of the largest 401(k) plans are opting to not usetheir recordkeeper’s proprietary target-date funds, according to datafrom SEI Investments Co., an investment manager with $684billion in assets under administration.
More than two-thirds of plan sponsors with more than $1 billionin plan assets are using target-date funds from a provider otherthan the plan’s recordkeeper, according to a survey of 231 planswith assets between $25 million and $5 billion: 47 of those plansare SEI clients.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
