Automatic 401(k) rollovers reduce cash-outs, research finds — but few accounts reach new employer plans
Summary
Recent research shows that automatic portability programs help workers with small retirement account balances cash out less frequently. However, the data also reveals that the majority of these transferred funds continue to sit in temporary individual retirement accounts rather than moving into new employer plans.
Workers with small 401(k) balances are cashing out less often under an automatic portability program, but most accounts remain in temporary IRAs.
Source: Read the full story at US Top News and Analysis
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