Plan recordkeepers with “bundled” services can offer an array of financial services and products—including IRAs. When a plan participant has a distributable event (such as termination of employment or retirement) these bundled providers have tremendous economic incentives to favor the IRA rollover over retaining assets in the employer-sponsored plan. And, these providers utilize a surprising variety of tactics to attract this rollover revenue.

Compliance with government required reporting and disclosure requirements gives participants lots of information – and pieces to the retirement puzzle. However, in their efforts to comply with these requirements, participants are not provided enough to assemble the disparate pieces of information available. And, there are some key pieces missing.