Upon retiring, individuals face a number of decisions that must be made within a relatively short period of time. One of the most important decisions is what to do with assets in an employer-sponsored defined contribution plan. But just how important do recent retirees regard this decision? How do they decide what to do with their plan assets? And how well are they planning for their retirement? The Defined Contribution Rollover Survey conducted by The American College New York Life Center for Retirement Income seeks to answer these questions through a survey of recent retirees who retired with at least $75,000 in their last employer’s defined contribution plan.
The questionnaire for this study was designed by Greenwald & Associates, in cooperation with The American College. Respondents were asked questions regarding their decision about what to do with the money in their 401(k) or 403(b) plan when they left full-time employment; whether they had a financial plan for retirement; who developed the plan and what the plan contained; and decisions regarding Social Security claiming decisions, investment allocations and management, and relationships with financial advisors.
View the reports to read about the study's key findings.