Download the PDF version of the joint Boston Research Group / Retirement Clearinghouse webcast, delivering groundbreaking new research about America's Mobile Workforce.
Conducted in April 2015, the survey interviewed 5,000 active defined contribution (DC) plan participants.
Key findings of the survey:
- Cashing out is not a natural proclivity.
- Rolling into the next plan is the hardest process of all options at job termination.
- Cash-outs are primarily a function of financial wellness rather than wealth, but not income.
- Cashing out is not necessarily spurred by an emergency.
- Penalties for cashing out may be weak deterrents.
- Consequence-based decision-making (framing) affects some cash-out choices.
- Dampening cash-outs will require a multi-pronged approach.
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