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Auto protability of 401(k) plans could keep $2 trillion in the US retirement system
It’s important to carefully consider what to do with the money you have stashed away in your 401(k) if you have been either laid off, furloughed or changing jobs. Many people forget about it or simply cash it out if the savings are minimal, but this could lead to missed opportunities for building up a healthy retirement nest egg. Retirement Clearinghouse developed a technology feature that would enable auto portability of 401(k) plans that could keep as much as $2 trillion in the U.S. retirement system according to researchers at the Employee Benefit Research Institute. In Sharon Epperson’s article appearing on www.CNBC.com, she explains how the auto portability feature works. Read Ms. Epperson’s article here…
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