Fidelity Investments reported Tuesday nearly one-third of its plan participants who recently made a job transtion aren't sure what to do with their retirement savings.
While Fidelity data shows about one-third of participants move their money from a former employer’s plan within four months after a job transition, those who remain in their plan do so for a variety of reasons.
According to the study, which surveyed participants who had left their employers at least four months prior, nearly three-quarters (71 percent) of respondents said they are consciously keeping their assets in an old plan for the time being. The top reason stated (59 percent) was satisfaction with the plan features or services and access to specific investments. At the same time, more than one-quarter of respondents (27 percent) indicated that a lack of time or mind share has prevented them from taking any action.
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