The sheer number of modest, inactive 401(k)s — along with the friction in the industry that makes it difficult to seamlessly transfer the balances from plan to plan as participants change jobs — is causing a lot of undue stress.
Workers should start shoring up their savings by chipping in as much as they reasonably can to their employer’s retirement plan, especially if it comes with a matching contribution.
The sheer number of modest, inactive 401(k)s — along with the friction in the industry that makes it difficult to seamlessly transfer the balances from plan to plan as participants change jobs — is causing a lot of undue stress.
Open enrollment is fast approaching, and even the most prepared benefits pros may be wondering if they've done everything possible to engage and prepare their employees.
As we roll full-speed ahead into Labor Day and the official start to fall, that can only mean one thing (no, not pumpkin spice season): the start to Annual Enrollment.
