Forty-five percent of retirees still have their assets in retirement savings plans through their employers, according to a new LIMRA study. One-fifth of retirees own three or more IRAs.

The survey, conducted in October 2010, interviewed individuals between 55 and 79 who had been retired for at least a year and had household incomes of at least $35,000.  

"While many retirees may think retaining multiple retirement plans or IRAs is a good diversification plan, doing so can make it difficult to measure whether their investments are effectively aligned with their retirement goals," said Jafor Iqbal, associate managing director of LIMRA Retirement Research. "Consolidating assets under one professional manager or institution gives retirees access to information and guidance, typically at a lower cost, to help make the most out of a retirement plan."

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