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401(k) administrators team up to coordinate benefit portability

Posted On: Oct. 17, 2022 9:49 AM CST

A new partnership between 401(k) administrators could preserve more than $1 trillion in retirement savings, helping tens of millions of U.S. workers keep more money in their 401(k) plans, reports BenefitsPro. The three 401(k) administrators are Fidelity Investments Inc., The Vanguard Group Inc., and Alight Solutions, which represent approximately 43.8 million workers across more than 48,000 employer-sponsored retirement plans.