Back on Tuesday we mentioned that Herb Kohl's Senate Special Committee on Again would hold a hearing on target-date funds, with special emphasis on their role in retirement plans. And hold that hearing they did.
The testimony the committee heard was all well and good, but the substantive issues are best captured in this staff report, revealingly subtitled "Lack of Clarity Among Structures and Fees Raises Concerns." If you're into this sort of thing, we recommend that you take a look. The good stuff starts on page 8.