Released: April 07, 2013

Rolling over a 401(k) is a pain—and potentially costly

Source: Consumer Reports

The federal government has secret shoppers like Consumer Reports has, and they're not afraid to use them. Last year, investigators with the Government Accountability Office contacted the 30 largest 401(k) service providers to see how easy it would be to move 401(k) savings from one plan to another, as when one joins a new company. What they encountered, in a report the GAO released this week, was inefficiency, and occasional misinformation.

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