Information doesn't equal understandingFor example, Deloitte found that despite the more than $1 billion spent on product advertising, the following percentage of survey respondents said they knew nothing about or did not understand how these common retirement investment products work. Target date mutual funds: 60 percent
Fixed income securities (bonds): 44 percent
Annuities: 38 percent
Mutual funds other than target date funds: 37 percent
Dividend stocks: 34 percent But the complexity of certain products isn't the only challenge facing consumers here. In some cases, having more investment options may lead workers to simply bow out of the investment process because of the work required to sort through their choices. In 2009, a study conducted jointly by retirement services firm T. Rowe Price and researchers at Columbia University found too many choices led to lower participation in certain plans. That finding was backed up by a 2011 study from Columbia Business School.