US. 1/3 Withdraw 401(k) Balances After Job Changes—What Is Driving This Trend?
Retirement savers are generally putting more into their 401(k) accounts these days, but much of the money Americans are saving for their future doesn’t end up lasting until then. That's because a large portion of employees withdraw their 401(k) balance in a lump sum when they leave a job, rather than rolling it over to their new employer or into another account, or leaving their balance where it is. One-third of those who have Vanguard-administered 401(k) plans and left a job did this, according to...
