Bloomberg by the Numbers: $321 Billion


Retirees rolled $321 billion to individual retirement accounts from 401(k)-style plans in 2012.

That’s a 60 percent increase over a decade, according to Cerulli Associates, a Boston-based research firm.

A three-month Bloomberg investigation uncovered former employees at major companies who have complained that “sales representatives lured them into rolling over their 401(k) nest eggs into unsuitable IRA investments,” John Hechinger reported.

“While retirees can generally leave their savings in 401(k) plans, financial firms entice them with cold calls, Internet ads, storefront signs and cash incentives to switch to IRAs,” Hechinger wrote.

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