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The preponderance of data through the end of March showed 401(k) investors were mostly resistant to panic during massive market selloffs due to the Covid-19 pandemic. But new data is showing near-retirement target-date fund investors redeemed savings at unusually high rates during March, according to Morningstar.

The data is “a sign of how much fear gripped investors in March,” said Jason Kephart, senior manager research analyst at Morningstar.

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.

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