BlackRock??

I have read in several places that to keep up with inflation, we need to have 60% of our assets in the stock market during retirement. Most target funds are way be low that. If you are retiring at 65, I would argue that you should still be in the growth phase with 100% stock funds, and start shifting 10% a year to bonds about 5 years before retirement to more secure. For a general change out of the target fund, consider doing 20% at a time and move it over several months. That can give you time to be happy with your decision instead of full regret. If you are retiring before 60, consider the rule of 55 that allows you to withdraw penalty free from your 401k (not IRA) if you quit your job at/after age 55 and keep your funds with the company. Ask HR if this is something you might want to take advantage of, as policies can vary. Withdrawals from 401ks often require that you withdraw an even percent from each fund, while you may be able to select which fund you withdraw from on and IRA. IRAs can also allow qualified charitable contributions. If you donate a lot to charity, this can help manage taxes after age 70.5. As you retire, those may be considerations on keeping money in the account vs doing a direct rollover to an IRA in addition to fund choices.

Regarding being invested in the target date funds, it depends on what your retirement plans are. Are you invested in the one they told you to based on your age, but you actually plan to quit work at 60, then you might be in the wrong fund. A target date fund means you don't control the allocations. You can pick index funds yourself outside of the target date options and create something essentially identical to the target date fund, but you can change the allocations when you want to. You can also change where your money is invested in your 457 at any time penalty free as long as you don't withdraw it while still with your employer. So, you're not stuck with Blackrock. It's not like you incur capital gains if you moved your money out of the target date fund like a brokerage account. So your options are set it and forget it with the target date fund or reallocate and manage it per your own needs and to complement other retirement account investments you have.

Are you confusing BlackRock (fine) vs Blackstone (evil)?