Asset allocation refers to the general categories you can invest in, such as stocks, bonds, or cash. In your retirement plan, you have the choice to invest through mutual funds. Each mutual fund has multiple investments in it. Some mutual funds focus on a specific type of investment, such as all large U.S. companies.
Generally, the categories are broken down into large, medium, and small U.S. companies, international companies, or into bonds backed by governments, banks, or corporations. It’s suggested that you take a risk assessment to help determine which fund to utilize. Of course, if you wish to diversify your investment portfolio yourself, you may select from any of the plan's investments.
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