J.P. Morgan Asset Management wants to limit choices in defined contribution plans. The group introduced Core Menu Innovation in November. It will provide each of its 401(k) plan sponsors with three custom diversified portfolio choices aimed at different levels of risk tolerance. Each general portfolio type would have a stock, bond or cash core, with other investments balanced to ensure diversification. "It makes sense," says Kevin Chisholm, a senior analyst at Cerulli Associates. Participants think investment menus are "confusing."

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