Automatic transfer of small 401(k) balances is a big win for Vanguard and retirement savers

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Last Updated: Oct. 4, 2021 astatine 11:28 a.m. ET First Published: Oct. 4, 2021 astatine 7:30 a.m. ET

Engaging Retirement Clearinghouse should markedly trim leakages and summation saving

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Rejoice! Vanguard has hired Retirement Clearinghouse LLC to automatically transportation tiny balances from 1 401(k) program to another. This is simply a triumph for Vanguard and its customers, for Retirement Clearinghouse, which has been moving connected this task for galore years, and for the status strategy arsenic a whole.   

This inaugural should dramatically trim leakages and summation 401(k) balances. Each year, millions of Americans permission their jobs and currency retired their holdings, due to the fact that it is precise hard to rotation wealth from 1 401(k) to...

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