Philip Chao featured in CNBC article “Billions of Dollars Get Left Behind: The 401(k) industry now has a ‘lost and found’ for your old retirement accounts.”

Key Points

• Fidelity Investments, Vanguard Group and Alight Solutions – three of the largest administrators of 401(k) plans – are teaming up to reconnect workers with savings left behind at old employers.
• Current rules allow employers to move accounts of less than $5,000 out of their 401(k) plan.
• The firms account for about 40% of total investors in workplace retirement plans.

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