The problem of missing retirement plan participants continues to receive a great deal of attention from plan sponsors, industry advocates, regulators and politicians.

All parties are keen to address the negative outcomes that result when job-changing 401(k) participants leave behind their accounts with former employers, relocate and fail to update their address.

It may surprise many to learn that there’s another problem that’s orders-of-magnitude worse, which silently devastates millions of Americans’ prospects for a timely or comfortable retirement every year.  I’m referring to 401(k) cashouts, and it’s time we took serious action to address them head-on.

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