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<p>This Georgetown CRI study, in conjunction with CEM, asks the question, “Should DC plan sponsors emulate DB plans by increasing or introducing allocations to illiquid assets within target date fund options?” This analysis focuses on the period 2011–2020 and assesses how DC plan participants’ experiences would have changed had DC TDFs made higher allocations to illiquid assets during this time. The results suggest the potential increase in returns may have been a missed opportunity.</p>
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