Labor Department Clears Path for Automatic 401(k) Transfers

GE pays fines for 401 K mismanagement

Companies could start automatically transferring small retirement accounts belonging to employees who change jobs to the 401(k) plans of their new employers, according to new guidance from regulators. The move is the latest effort to reduce the premature flow of money out of 401(k)-style plans. A pair of recent Labor Department actions would give Retirement… Continue reading Labor Department Clears Path for Automatic 401(k) Transfers