Solutions for When Former Employees Leave Retirement Accounts Behind

August 30, 2016

This article published in PSCA's Summer 2016 issue of Defined Contribution Insights discusses how higher turnover in the job market is resulting in an increased number of small retirement plan balances. Therefore, plan sponsors – to avoid fiduciary and legal responsibilities, as well as the continuing costs associated with maintaining the account– may prefer that former employees move their money out of the plan.