Annual IRA rollover contributions should surpass $450 billion by 2017 as more baby boomers approach retirement age, Cerulli Associates reported this month.
In its report, the Boston-based global analytics firm analyzes current 401(k) plan participant behavior and finds that IRA rollovers will be a growing opportunity over the next five years for asset managers to capture assets.
"Rollover opportunities are increasing as baby boomers have started to reach retirement age," said Alessandra Hobler, senior analyst at Cerulli, in a statement. "Rollovers into individual retirement plans from defined contribution plans were at $315.7 billion as of year-end 2012, and we expect that number to reach $450 billion in 2017."
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