About 75% of large 401(k) plan sponsors would rather keep the assets of retired employees in the plan, rather than have these retirees roll over their plan assets into an individual retirement account (IRA), according to a PIMCO survey of 47 retirement plan advisory firms.<\/p>\n\n\n\n
It\u2019s clear that plan sponsors don\u2019t know what they\u2019re talking about. Sure, more assets may equal better fees for the plan, but who needs the headache? It\u2019s hard enough to manage a plan with current employees, but why would anyone want to deal with the headaches of keeping track of retirees and making sure they get all the required notices?<\/p>\n\n\n\n
Plan sponsors need to say goodbye when employees leave and hope they take their 401(k) money with them. They don\u2019t need the challenges of dealing with former employees, especially with the Department of Labor cracking down on the huge issue of missing participants.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" About 75% of large 401(k) plan sponsors would rather keep the assets of retired employees in the plan, rather than have these retirees roll over their plan assets into an individual retirement account (IRA), according to a PIMCO survey of … Continue reading