When workers leave, 401(k) accounts stay

August 2009
Employee Benefit News;Aug2009, Vol. 23 Issue 10, p1
The article reports on the ramifications of a situation in which former employees leave behind their 401(k) accounts for both the previous employer and the worker. According to a research from Charles Schwab, 43 percent of assets held by 401(k) participants who left their jobs in the first quarter of 2008 had not been transferred a year later. Employers believe that providing counseling to plan participants on their options for retirement can enhance or destroy the reputation of a company.


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