EBSA Floats Simplifying 401(k) Transition Upon Job Change

By Emily Brill (November 8, 2018, 2:59 PM EST) -- The Employee Benefits Security Administration has introduced a proposal intended to allow workers to seamlessly transfer their retirement savings from one 401(k) plan to another when they change jobs.

When leaving their old jobs, workers would see their 401(k) savings moved to an individual retirement account until they started their new jobs, at which point the savings would automatically transfer to the new 401(k) plan, EBSA said Wednesday.

The so-called auto portability program "seeks to improve asset allocations by consolidating small retirement savings accounts, eliminate duplicative fees for small retirement savings accounts and reduce leakage of retirement savings," the agency said...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!