What you won’t hear in commencement addresses

By Neal Ringquist
Published on May 9, 2016

MarketWatchIn his May 9th article in MarketWatch’s Retirement Mentors blog, RCH President & CEO Spencer Williams offers sage advice to college graduates as they enter the workforce:  consolidate your retirement savings!
Citing job-changing statistics from EBRI, as well as the poor decisions made to cash out or strand retirement savings.  Williams also points to a 2015 study of mobile workforce behaviors, conducted by Boston Research Technologies, which found that 32.8% of workers left behind their retirement savings in their most recent, former employer’s plan, despite the fact that almost 98% of plans are able to accept roll-ins from other plans.

College graduates will learn the value of a dollar soon enough, says Williams, who advises these new savers to begin saving early, often – and, when changing jobs -- to move their retirement savings forward to their current employer’s plan.

 

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