As part of an analysis, Fidelity Investments compared average asset allocations of participants to an age-based Target Date Fund and they found that nearly a quarter (23%) of 401(k) savers still have a higher percentage of equities than recommended, including 7% who are 100% invested in equity.

This should shock no one. Again, I always believe that participants are ill-equipped to make sound investment decisions and this analysis is consistent with that. As an industry, we still don’t do enough in educating plan participants.