Keyword: rollover ira

The High Cost of ‘Orphan’ Accounts

In the aggregate, how bad is the problem created by participants who leave their retirement accounts behind when they move to a new employer? Among other data points: 45% of employees leave their retirement accounts behind; there are an estimated 15 million “orphan” accounts; at an annual cost between $25 and $35 per orphan account, the total cost is between $375 million and $525 million a year.   Read More

‘Like’ Minded?

More and more Americans are finding themselves with multiple savings accounts, not only because of the relatively consistent pattern of job change in the American economy, but because those job changes frequently result in rollovers to individual retirement accounts.   Read More