woman sitting on empty land on her suitcase waiting (Photo: Shutterstock)

The COVID-19 crisis has created a situation where tens of millions of American workers are in danger of seeing their retirement savings depleted and has led to extreme disruption in daily life, financial markets, and the economy—especially employment.

As of May 28, more than 40 million Americans filed claims for unemployment benefits in the previous 10 weeks. The deadly combination of levels of unemployment not seen since the Great Depression, a significant market downturn, and the ongoing problem of severe friction in plan-to-plan portability foretells serious implications for retirement outcomes.

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