Calculating cash outs...
Total 401(k) Retirement Savings Cashed Out This Year
The National Retirement Savings Cash Out Clock is based on research from the Employee Benefit Research Institute (EBRI), published 7/31/19, which identified $92.4 billion in annual 401(k) cash out leakage.
Cash outs are calculated year-to-date for all 401(k) / defined contribution job-changers who will cash out their retirement savings completely, paying taxes and penalties, and potentially depriving themselves of a timely or comfortable retirement.
The majority of these cash outs could be prevented by simply providing these participants with an easy option to move their retirement savings forward, at job change.
To learn more, visit Retirement Clearinghouse's Auto Portability page.