It’s commonly accepted for 401k and retirement plan sponsors to focus on three major initiatives to promote retirement adequacy: participation, saving and diversification.

While these three initiatives are proven, an emerging best practice is for plan sponsors to expand this list, incorporating consolidation, where plan participants are encouraged to consolidate balances from former employers’ plans, using their current employer’s plan to manage their retirement savings.

Read the article by Neal Ringquist in 401kSpecialist