retirement plan 401(k) retirement savings portability |
Missing participants are bad
Missing participants sponsors survey |
401(k) cashouts are MUCH worse
1. Missing participants have preserved their retirement savings, while participants cashing out have not. 2. Far more cashouts occur than participants who go missing.
- 6 million will eventually cash out. Incredibly, that's 41% of the total.
- 2.1 million participants, or 14.5% of job-changers, will remain in their former employer's plan. 11.3% of these, or about 243,000, will have stale addresses and be considered missing.
3. Most 401(k) cashouts are completely unnecessary. |
Portability: A “two-fer” solution?
EBRI Tom Hawkins is Vice President of Sales and Marketing at Retirement Clearinghouse.
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