As new research finds that allocation to alternatives can benefit target-date products, a debate remains as to whether they’re worth the cost. Allocations to private equity, private real estate and hedge funds can lead to better outcomes for target-date investors, including more retirement income and less volatility over time, according to “The Evolution of Target Date Funds: Using Alternatives to Improve Retirement Plan Outcomes,” a report from the Georgetown University Center for Retirement Initiatives and Willis Towers Watson.