Fidelity's Auto Portability: Saving Retirement Funds

Fidelitys auto portability service, adopted by over nine thousand plans, helps employees transfer small retirement savings between jobs, preventing them from losing or cashing out their funds prematurely. This service, part of the Portability Services Network, has seen a significant increase in adoption, with over forty percent of job changers with small balances previously cashing out their accounts. The auto portability service helps avoid costly penalties and taxes, allowing small balances to grow and contribute to a more secure financial future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.