For the average person, these life cycle funds are an excellent option.

Clearly, this is a challenging group to get thinking about their futures.

If you save just 2% more and retire at 67 instead of 65, it dramatically improves your retirement outlook.

In many cases, employees don't actively manage their 401(k) portfolios because they don't know how to make good investment decisions, ... They feel safer doing nothing.

the average person is not going to do anything.

The average person is not making any choices on a proactive basis, on an annual basis. We have more anecdotal evidence that the individuals are not really sure what the choices are.

Despite all the attention around retirement, it's discouraging to see that many people -- especially younger workers -- still do not feel a sense of urgency to take control of their financial security by investing proactively in their 401(k) plans,

It's tended to be financial services firms or companies with employees who are investment-savvy. And they've been mainly responding to employee demand.

About 81 percent say they plan to save later.

There just needs to be a different way employees approach it. There is a lack of understanding around the amount of responsibility individuals have when they're relying on a 401(k) for retirement.