401(k) portability system cuts retirement cash-outs among job switchers, but only 6% reach new plans
Changing jobs can make it difficult for workers to keep track of their old 401(k) retirement savings. Some employers automatically cash out retirement accounts with balances below $1,000 and send the money to former employees through a cheque. 401(k) portability system helps workers transfer retirement savings when they change jobs. (Pexel) For balances between $1,000 … Read more