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Much has been written in the media about the increase in mobility of today’s American workforce.
The Employee Benefit Research Institute (EBRI) estimates that the average American will change jobs 9.9 times during a 45-year working life and about 14.8 million defined contribution plan participants switch employers every year. The U.S. Bureau of Labor Statistics also reports that monthly quit rates have doubled since the Great Recession.
Spencer Williams is CEO of Portability Services Network and Retirement Clearinghouse, a portability solutions provider.
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