David Blanchett, Michael S. Finke, Jonathan Reuter

NBER Working Paper No. 27438
Issued in June 2020

---- Acknowledgments ----

Reuter (reuterj@bc.edu) is the corresponding author. Neither Finke nor Reuter have any potential conflicts of interest to disclose. Blanchett works for Morningstar Investment Management, which offers services to 401(k) plan sponsors, including target date funds and managed account products. The account-level snapshots come from one of the recordkeepers who utilize these services. The views expressed in this paper are solely those of the authors, who are responsible for the content, and do not necessarily represent the views of our employers, nor those of the National Bureau of Economic Research. Any remaining errors are our own.

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