The relatively new Target Date Funds, which are now an approved investment by the Department of Labor, have proven themselves to be a moving target for any kind of benchmark comparison. The authors offer their methodfor creating the Pure Target Index Series, which they define as not just hypothetical; they are totally investable. There may be differing thoughts on how to handle these investment vehicles, but most agree that standardized performance benchmarks are needed.

Evaluating Target Date Lifecycle Funds