savings

401(K) Plans: Greater Protections Needed for Forced Transfers and Inactive Accounts

What GAO Found GAO-15-73: Published: Nov 21, 2014. Publicly Released: Dec 22, 2014. When a participant has saved less than $5,000 in a 401(k) plan and changes jobs without indicating what should be done with the money, the plan can transfer the account savings—a forced transfer—into an individual retirement account (IRA). Savings in these IRAs […]

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