Nearly one-third, 29%, of the three million 401(k) participants that Vanguard serves had their portfolios in a target-date or balanced fund, or a managed account advisory service, according to Vanguard’s 10th annual “How America Saves.”

Twenty percent held one target-date fund, a dominant trend because 79% of the plans Vanguard services offered target-date funds at the end of 2010. Six percent held one traditional balanced fund, and 3% used a managed account program.

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