Tag: GAO
GAO finds that forced transfers erode in value and people lose track of inactive accounts. Millions of Americans – almost 40 percent of workers – leave their jobs each year, and many fail to specify what should be done with their 401(k) savings. If the balance is small, employers can transfer it out of t…
As the role of 401(k) plans and similar defined contribution plans continues to expand in our retirement system, plan participants are paying more of the cost of financing their retirement income. The increase in individual payments takes two forms. First, in old fashion defined benefit plans, employers made all of the contributions; in 401(k) plans,…
