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21.05.25 - 15:42
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PensionBee Analysis Reveals 401(k) Rollover Delays Could Cost Savers Up to $76,000 (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Every year, millions of Americans leave their jobs and take their retirement savings with them, but not without a cost. Despite living in a digital-first world, the 401(k) rollover process is still shockingly analog.
New analysis by PensionBee shows that outdated processes could be costing retirement savers up to $76,000 in lost returns over their lifetime.
Let that number sink in.
In an industry built to serve long-term financial growth, the fact that savers are routinely sidelined for weeks - or even months - while their money sits out of the market is more than a nuisance: it's a systemic failure.
Rolling over to an IRA or a new employer plan is a common practice after switching jobs. In 2020 alone, about 5.7 million people rolled over a total of $618 billion into IRAs, according to the IRS. Many of those rollovers still involve printing paperwork, calling call centers, and waiting for a physical check to arrive by mail.
These delays aren't just frustrating to deal with - t...
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22.04.25 - 16:24
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New Analysis Reveals $100k Price Tag for Expected Social Security Cuts in 2035 (Business Wire)
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PensionBee Analysis Shows How Americans Can Prepare for a 17% Benefit Reduction
NEW YORK--(BUSINESS WIRE)--#oasdidepletion--New research from retirement provider PensionBee highlights the real cost of the expected 17% cut to Social Security benefits starting in 2035, unless Congress takes action. Americans could need an extra $100,000 in retirement savings to make up the shortfall, posing a significant financial challenge for millions.
Without intervention, the combined Social Security trust funds (OASDI) are forecasted to be fully depleted by 2035. The anticipated result is an across-the-board reduction of 17% in monthly benefits. For the average retiree, receiving $1,980 monthly, a 17% cut translates to losing $336 per month, or $4,039 per year.
To maintain some income in retirement, workers would need to save an additional $100,980, based on the 4% rule - a figure that surpasses the current median retirement account balance of $87,000.
According to the 4% rule, which captures the ratio between annual w...
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16.04.25 - 19:45
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Analysis: The Hidden Cost of Leaving Your 401k Behind: How $4.55 Per Month Can Cost You Nearly $18,000 (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#401krollover--When you leave a job, you might not think twice about what happens to your 401(k). But what you don't think about can cost you.
New analysis from PensionBee reveals how discreet non-employee fees on retirement accounts can snowball into nearly $18,000 in lost funds over time. The findings highlight the surprising impact of these innocuous account maintenance fees on left-behind retirement accounts.
When employees change jobs, many retirement providers may start charging fees previously covered during their employment. It's essentially the retirement account version of COBRA, where costs that were once employer-subsidized suddenly become the consumer's responsibility. But, unlike COBRA, which has clear notification requirements from the insurance provider and former employer, these 401(k) fee changes often happen with minimal transparency and continue indefinitely.
The Compounding Problem
PensionBee's case study analyzed the long-term impact of non-employee fee...
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13.03.25 - 21:12
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Private ETF Fails To Attract Big Inflows | Bloomberg Markets 03/13/2025 (Bloomberg)
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"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests; State Street Global Advisors Executive Vice President Anna Paglia, PensionBee CEO Romi Savova, Thales CEO Patrice Caine, Citigroup Global Markets Global Head: Commodities Research Max Layton, and Bloomberg's Michael Regan. (Source: Bloomberg)...
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13.03.25 - 21:06
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Simplifying 401(k) Process: PensionBee CEO (Bloomberg)
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Recent turbulence in the stock market has made Americans constantly check their 401(k)s balances. PensionBee CEO Romi Savova explains how they aim to make retirement account management simpler. She speaks with Scarlet Fu on "Bloomberg Markets." (Source: Bloomberg)...
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