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How Have Employers' 401(k) Mutual Fund Selections Affected Investment Results? (PDF)
Center for Retirement Research [CRR] at Boston College Link to more items from this source
Jan. 8, 2013
"Key findings: [1] 401(k) performance is affected by the decisions of plan administrators as well as participant choices. [2] Administrators choose mutual funds that perform worse than comparable indexes but better than comparable, randomly selected funds. [3] When making changes to a plan's fund offerings, administrators chase returns and do not improve performance. [4] Participants also tend to chase returns through contribution changes and asset transfers, and their investment strategies add no value"

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