Rapid 401 (k) consolidation shrinks employer options

Papini, Jessica
April 2007
Employee Benefit News;Apr2007, Vol. 21 Issue 4, p43
The article focuses on the changes and activity in the U.S. retirement business sector. According to New York Life Investment Management (NYLIM), within six years, 50 investment management companies have opted out of providing 401(k) plans and more are expected to consolidate or exit the business. Don Salama of NYLIM claims that the industry has a turnover rate of 8 to 12 percent each year.


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