The checklist you need to manage multiple retirement accounts

By Neal Ringquist
Published on December 16, 2015

MarketWatchIn his December 16th, 2015 article in MarketWatch, RCH’s CEO Spencer Williams offers a year-end checklist for those retirement savers who’ve elected to leave qualified retirement savings accounts behind with their former employers.

Williams maintains that multi-account retirement savers must maintain a level of vigilance to ensure that they keep tabs on these accounts, including:

  1. Monitoring merger and acquisition activity, which can lead to plan consolidation and significant changes to plan features.
  2. Determining if there are any other major plan changes (ex. – new recordkeeper, new fees, new investments, etc.)
  3. Ensuring that annual reports are still being mailed & received at your present address.  These reports should be reviewed to ensure that there are no significant changes.

 If the list above sounds onerous, then you should consider consolidating your old accounts into your current employer’s plan.  The all-too-common assumption that most people make – that it’s easier just to leave these accounts behind – is often false!

Read the MarketWatch article here.

 

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