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Retirees Suffer as Plan-to-IRA Rollover Boom Enriches Brokers
Bloomberg 
June 17, 2014
"Former employees shifted $321 billion from 401(k)-style plans to individual retirement accounts in 2012, up about 60 percent in a decade ... As a result, IRAs hold $6.5 trillion, more than the $5.9 trillion in 401(k)-style accounts. A three-month Bloomberg investigation found that former employees at major companies ... have complained that sales representatives lured them into rolling over their 401(k) nest eggs into unsuitable IRA investments. The investigation was based on interviews with retirees and brokers, confidential arbitration records and other documents."
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