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.