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More than half of 401(k) plan sponsors (54%) prefer to keep their retired participants' assets in their plan instead of rolling them into an additional IRA or other employer-sponsored plan, according to research from Cerulli Associates.
"Employers often cite wanting to help older workers close to the end of their working years as a main reason for offering potentially meaningful in-plan retirement benefits," said David Kennedy, the company's senior analyst. "Helping these workers often is seen as just the right thing to do but also can contribute to the overall culture of a company and aid recruitment and retention efforts.
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