--- title: "Fiduciary Focus: Target Date Funds" description: Target Date Funds image: https://blog.sweeneyconrad.com/hubfs/3-%20Target%20Date%20Fund.jpeg --- [![Sweeney Conrad](https://blog.sweeneyconrad.com/hs-fs/hubfs/raw_assets/public/SweeneyConrad_August2022/images/Sweeney-Conrad-logo.jpg?width=542&height=48&name=Sweeney-Conrad-logo.jpg "Sweeney Conrad")](https://www.sweeneyconrad.com/preview/) ![navigation menu](https://blog.sweeneyconrad.com/hubfs/raw_assets/public/SweeneyConrad_August2022/images/hamburger-bars.png) - [What We Do](https://www.sweeneyconrad.com/what-we-do) - [Tax Services](https://www.sweeneyconrad.com/what-we-do/tax-services) - [Client Accounting Services](https://www.sweeneyconrad.com/what-we-do/client-accounting-services) - [Advisory Services](https://www.sweeneyconrad.com/what-we-do/advisory-services) - [How We Do It](https://www.sweeneyconrad.com/how-we-do-it) - [Our Process](https://www.sweeneyconrad.com/how-we-do-it/our-process) - [Industries we serve](https://www.sweeneyconrad.com/how-we-do-it/industries) - 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[40+ Year History](https://www.sweeneyconrad.com/who-we-are/history) - [Careers at SC](https://www.sweeneyconrad.com/careers) - [Benefits & Perks](https://www.sweeneyconrad.com/careers/benefits-perks) - [Experienced Professionals](https://www.sweeneyconrad.com/careers/experienced-professionals) - [SC Young Professionals](https://www.sweeneyconrad.com/careers/sc-young-professionals) - [SC Summer Summit](https://www.sweeneyconrad.com/careers/summer-summit) - [Job Opportunities](https://www.sweeneyconrad.com/careers/job-opportunities) - [Get in Touch](https://www.sweeneyconrad.com/get-in-touch) - [Contact Us](https://www.sweeneyconrad.com/get-in-touch/contact-us/) - [Pay Online](https://www.quickfee.com/qsop?company=quickfeeus&creditor=SWEENEY) - [Client Login](https://sweeneyconrad.sharefile.com/) - [Our Insights](https://blog.sweeneyconrad.com/) - [Newsletter](https://share.hsforms.com/189SwWa83QWmQ98wj4A6liQ2bure) # Fiduciary Focus: Target Date Funds By Wende Wadsworth, Audit Shareholder | Oct 27, 2020 [![white arrow](https://blog.sweeneyconrad.com/hubfs/raw_assets/public/SweeneyConrad_August2022/images/arrow-left-white.png)](https://blog.sweeneyconrad.com) INSIGHTS/BLOG ![3- Target Date Fund](https://blog.sweeneyconrad.com/hs-fs/hubfs/3-%20Target%20Date%20Fund.jpeg?width=300&name=3-%20Target%20Date%20Fund.jpeg)Target date funds (TDFs) have become an increasingly popular investment choice for many retirement plan participants. According to a recent estimate by Bloomberg Law, participants currently hold about $1.4 trillion in TDFs. The coronavirus crisis is putting TDFs in a new light for plan sponsors due to the potential for fiduciary breach lawsuits. During the 2008-2009 financial crisis, TDFs lost an average of 67 percent of their value. It remains to be seen what kind of damage this crisis will inflict on TDFs, but it’s possible that we could see more lawsuits later this year. Now is a good time to ensure you’re fulfilling your fiduciary duties when it comes to your plan’s TDF offerings. Not all TDFs are the same. While the DOL has designated TDFs as a qualified default investment alternative (QDIA), the fiduciary safe harbor does not relieve you of the responsibility to prudently select and monitor your TDFs and ensure that fees are reasonable. You might consider hiring a professional fiduciary, such as a 3(21) investment advisor, to help you review your TDFs and assume co-fiduciary responsibility. You should also plan to review and consult with your advisors on a regular basis given the fluidity of the pandemic situation and economic developments. Review your process for TDF selection and oversight to ensure it covers all your fiduciary responsibilities. Also consider establishing and documenting a formal procedure for TDF selection and oversight if you don’t currently have one, as well as maintaining thorough recordkeeping of all decisions you make. *Our professionals are here to answer your questions about your fiduciary duties as they relate to target date funds.* ### RECENT POSTS ### POSTS BY TAG - [Tax (121)](https://blog.sweeneyconrad.com/tag/tax) - [Audit & Assurance (73)](https://blog.sweeneyconrad.com/tag/audit-and-assurance) - [Estate Planning (60)](https://blog.sweeneyconrad.com/tag/estate-planning) - [News (29)](https://blog.sweeneyconrad.com/tag/news) - [COVID-19 (26)](https://blog.sweeneyconrad.com/tag/covid-19) - [Sweeney Conrad News (20)](https://blog.sweeneyconrad.com/tag/sweeney-conrad-news) - [Retirement Reporter (17)](https://blog.sweeneyconrad.com/tag/retirement-reporter) - [Sweeney Conrad Passion (16)](https://blog.sweeneyconrad.com/tag/sweeney-conrad-passion) - [Sweeney Conrad People (15)](https://blog.sweeneyconrad.com/tag/people) - 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