When I left a job, the first thing I did was execute my rollover form to move my 401(k) balance to an IRA rollover.
While research from Pew will show that fees for an IRA account are higher because of fund costs (buying retail instead of a 401(k) plan having the ability to buy institutional), the fact is that you want to be in control of your own money.
Recently I’ve had to work through a Department of Labor situation with an orphan plan for a company that terminated 6 years ago where participants have their money in funds that may not be the right investment now. Even if your plan sponsor is still in business, communication with former participants is still poor and access to your money in my mind, is better than dealing with a former employer, that you left, for one reason or another.
Surveys are great, but you can’t put a price on having a peaceful mind, or knowing where your retirement money is.
