Joseph L., a 60-year-old veteran rep in New York says, for years, he had planned to retire at 63, soon after his youngest child finished college. Alas, the market pummel took a beating beginning in 2007 and his 401(k) plan took one along with it...

A fee-only financial advisor for both retirement plans and individuals, Roger Wohlner worries that target date funds—which invest in a mix of assets with the aim of reducing equity exposure as participants approach retirement—just can't do as good...