If retirement is in a general "retire at some age" fund and not individual stocks, is there a law that all stockholders in that class have the same allocations?
If you and I are in the same class of the same fund we would have the same allocation. However if you are in Vanguard Retirement 2050 and I am in Fidelity Retirement 2050 we likely would not. Also possibly if I am in the Admiral Class shares of Retirement 2050 and you are in the Retail Class.
Target date funds are no different than any other fund. The fund holds a given allocation; shareholders of the fund hold shares of the fund overall. There's no concept of individual fund participants having different allocations.
