Based on their length of time to retirement, this is clearly the right move. I am, however, concerned that a near-term bear market will give them a lot of angst - which could make the work environment a little tense.
This is what risk is all about. I take great pains to explain risk before I offer advice (you've probably seen a huge emphasis on risk in my past posts). In fact, I routinely tell folks that if I were investing for the long haul, I'd be wishing for a downturn so I could load up on cheap equities.
My own emotional response to feeling responsible for their investment decisions was unexpected. I am more nervous for their portfolios than I am for mine.
This comes with the territory. I don't particularly worry too much about my own portfolio because I've been through 2 bear markets. But yeah, most inexperienced folks will feel sick to their stomachs the first time they enter a bear market. The only thing I can recommend is, once again, to emphasize risk and how it ties in to reward.