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Corporate Pension Sponsors Fight for Ex-Employees' 401(k) Assets
Institutional Investor
July 1, 2016 "[United Technologies Vice President and Chief Investment Officer Robin Diamonte] grew tired of watching retiring and separating plan participants become fodder for call centers trolling to open new IRA accounts. To counter this pressure, she and her peers at International Paper Co. and IBM Corp. have launched campaigns to inform employees of their choices when it comes to their 401(k) accounts.... Diamonte faces an uphill battle. As U.S. defined contribution assets have grown to trillions of dollars, brokerages and mutual fund firms big and small have responded with aggressive efforts to vacuum up the 401(k) assets of separating and retiring employees." MORE >> |
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