Billions in Forgotten 401(k)s Drain Value in Low-Yield Automatic IRAs
A new report reveals that billions of dollars in automatic rollover IRAs are losing value due to low interest rates and fees. These accounts, created when workers leave jobs with balances under $7,000, often sit in cash-equivalent investments rather than growth-oriented portfolios. Over eight years, nearly 40% of these accounts remain worth less than their initial value, highlighting a significant gap in retirement savings management for millions of Americans.