Correct.  If you apply IK to the feet of a figure and then drag the hip up into the air you will see ghost footprints where the IK target is.  The target is not a part of the figure and will be placed wherever you move the foot (or hand) to after IK is turned on.  It would be really nice if you could move the target directly, however you have to use constraints to do about the same things.

Poser 5, 6, 7, 8, Poser Pro 9 (2012), 10 (2014), 11, 12, 13