Many investors are unaware of the options available for their 401(k) left with a previous employer, Fidelity Investments found. Nearly one-third, 30%, who made a job transition are unsure of what to do with their workplace retirement savings.

Seventy-one percent who had left a former employer at least four months prior said they were consciously keeping their money with their former employer’s plan, with the No. 1 reason for doing so for 59% of this group being satisfaction with plan features and access to specific investments. Another 27% said they were leaving the money there because they didn’t have the time or the interest in taking action.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access