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Review of ERISA Advisory Council Recommendations on Lifetime Plan Participation
October Three Consulting Link to more items from this source
Dec. 15, 2014
"The recommendations focus primarily on getting terminating participants to leave their retirement savings in their (former) employer's plan. This has been presented by many as a solution to the 'leakage' problem. It's unclear, however, whether sponsors actually want to retain the assets of terminating participants. And the changes in sponsor practice which the [ERISA Advisory Council] proposes to encourage participants to do this -- post-termination loan initiation, brokerage and mutual fund windows, lifetime income options and stable value funds, allowing consolidation of multiple accounts and providing access to financial advice -- all come with a cost."

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