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About 10 million peopleRetirement Plan Portability Infographic will change employers this year and face a choice regarding the money in their defined contribution (DC) plan. Recent research shows that more than half of job changers with less than $5,000 in their DC plans will cash out their balances. And while this may seem like a small amount of money, many consumers are losing out on long-term growth investment.

The beginning of the year is a great time to remind your clients of their options, like roll-ins or plan-to-plan transfers, in case they become part of the approximate 3.4 million people who will change jobs this year with less than $5,000 in their DC plan when they leave. Nine out of ten Millennials and Gen Xers prefer their employer plan as their primary retirement account. Ninety-eight percent of employer plans allow roll-ins, but only 6.6 percent of assets rolled-in during 2014 were plan-to-plan rollovers.

For more information on this topic, LIMRA members can read more about a discussion on Automatic Portability in DC plans, and advances on the regulatory and policy fronts.

Media Contacts

Catherine Theroux

Director, Public Relations

Work Phone: (860) 285-7787

Mobile Phone: (703) 447-3257

ctheroux@limra.com

Brooke Lacey

Senior Public Relations Specialist

Work Phone: (860) 298-3920

Mobile Phone: (413) 530-6184

blacey@limra.com

Bailey Reed

Public Relations/Social Media Specialist

Work Phone: (770) 984-3788

breed@loma.org

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