Perhaps nothing is as hotly debated (or meaningless!) as to vs. through.This incorrectly remains a primary driver of glidepath selection for many in the industry. We must go beyond . . .
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“To” managers are not so lazy that they just stop managing the glidepath because they assume all participants leave the plan/fund at retirement.
To vs. through used to be a proxy for risk. Today both approaches features both highly conservative and highly aggressive series.
How much risk/equity is the real question to ask.
“To” dominates “through” logically and mathematically.
