(Mid-America Pension Rights Project): More plans looking to hang on to assets of departing workers

Via Pensions&Investments

By Margarida Correia

Employees may leave their jobs but the money in their retirement plans can stay.

That’s the thinking among a growing number of defined contribution plan sponsors, particularly those running large plans, recent studies from Alight Solutions and Callan LLC show.

With baby boomers retiring, plan sponsors would rather not see their assets “walk out the door” as it could compromise their ability to negotiate fees, said Rob Austin, head of research at Alight in Charlotte, N.C.

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