Fidelity Supports Lifecycle Funds for 401(k) Accounts

Noting that 71% of the retirement savings plans that it services now offer its Freedom Funds lifecycle funds, Fidelity Investments last week issued a report recommending that more sponsors offer such default options. "Many employers have identified lifecycle funds as an opportunity to better equip their employees to achieve long-term investment goals," said Steve Deschenes, executive vice president with Fidelity Institutional Retirement Services Co.