Tag: savings
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…
No matter how you measure it, older Americans are falling deeper in debt. The number of people in their 60s who have debt has grown from just under half of that age group in 1998 to nearly two out of three in 2010. And their debt, as a share of their assets, has surged during…
