Affluent investors are expected to transfer up to $380 billion from former employers' 401(k) accounts into IRAs this year, according to data from Cogent Reports.
That massive shift from employers' plans — one in two surveyed by Cogent signaled their intention to move 401(k) assets in IRAs — comes as the financial services industry awaits the Department of Labor's new conflict of interest rule, which could very well affect the marketing of IRAs.
IRAs today hold $6.5 trillion, more than the $5.9 trillion in 401(k)-style accounts. Gen X and Y investors say they are most likely to roll over assets in the near future, in part because they'll be changing jobs.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
