The rapid increase in bankruptcies in the U.S. could result in more abandoned retirement plans, which occurs when a company goes out of business and assets in a defined contribution plan are left at a custodian or mutual fund company that is not authorized to distribute the monies.

In the first quarter of this year, bankruptcies rose 64% to 14,319 from 8,713 bankruptcies in the first quarter of 2008.

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