As target-date funds continue to grow in popularity as an option for saving for retirement, some experts question whether they are achieving their goals, but say they remain a good default plan.

In 2004, just 13% of defined contribution plans offered a TDF option. That rose to 84% in 2012, according to Vanguard data. The company estimates 55% of all participants and 80% of new plan entrants will be entirely invested in a professionally managed allocation by 2017.

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