Core Insights - A significant disconnect exists between Americans and their retirement savings, with 25% unable to name their retirement account provider [1][8] - The number of dormant workplace accounts has increased to over 30%, up from 21% in 2012, indicating a growing issue of "forgotten" accounts [1] Survey Findings - The survey conducted by PensionBee involved 1,000 U.S. retirement savers, revealing that 40% consult their account provider for questions, while only 4% use AI for retirement inquiries [8] - A large portion of respondents (31%) check their retirement accounts only once or twice a year, and 9% never review their allocation or do so every three years [8] - 55% of respondents have never consolidated old accounts, leading to fragmented savings across multiple providers [8] Risks of Inactivity - Inactive accounts face two major risks: asset misallocation, where portfolios may become misaligned with a saver’s risk tolerance, and automatic rollover of dormant accounts under $7,000 into Safe Harbor IRAs, which may not grow effectively [3][8] Company Overview - PensionBee is a leading retirement savings provider managing $10 billion in assets and serving over 300,000 customers globally, focusing on simplicity and transparency [5] - The company offers various IRA options, including Traditional, Roth, SEP, and Safe Harbor IRAs, with ETF-backed portfolios [5]

Core Insights - Nearly one in three workplace retirement accounts may be dormant, with over 30% of all 401(k) and 403(b) accounts potentially inactive [1][2][8] - The growth of dormant accounts has significantly outpaced active accounts, with dormant accounts increasing by 130% from 2012 to 2023, while active accounts grew by 44% [8] Key Findings - The number of dormant workplace retirement accounts doubled from 14.8 million in 2012 to 28 million in 2023, and is expected to reach 32.8 million by 2026 [8] - The percentage of funded workplace accounts that are dormant is projected to rise from 21% in 2012 to over 30% by the end of 2026 [8] - The average American worker's job changes more frequently, leading to a higher risk of "compounding loss" from forgotten accounts, with a small monthly fee potentially resulting in nearly $18,000 in lost wealth over a career [4] Regulatory Context - Under current SECURE 2.0 regulations, employers can automatically roll over "left-behind" accounts with balances under $7,000 into Safe Harbor IRAs, which may not keep pace with inflation [5][6] Recommendations - PensionBee suggests four immediate actions to safeguard retirement savings: find old accounts, consolidate them, review investment allocations, and automate contributions [9]

Core Insights - A study by PensionBee and The Open University reveals a 'legacy gap' in retirement saving motivations between gay and straight men, despite similar savings amounts [1][2] - The research indicates that sexual orientation influences the reasons for saving, particularly among straight men who are more likely to save for future dependents [3][4] Summary by Sections Research Findings - The study analyzed data from over 28,000 UK retirement accounts and surveys of more than 1,300 PensionBee savers, concluding that sexual orientation does not affect total retirement savings but does influence saving motivations [2] - Straight men without children are more inclined to save for future dependents compared to gay men, although this gap narrows once men become parents or caregivers [3] Behavioral Insights - Social expectations regarding family formation impact men's financial planning and motivations, suggesting that future family considerations shape present saving behaviors [4] - The research adds a behavioral perspective to existing studies on wealth and sexuality, emphasizing the importance of understanding how personal relationships influence financial well-being [4] Financial Inclusion - The findings suggest that financial systems may unintentionally rely on heteronormative assumptions, potentially alienating non-traditional family structures [5] - Financial messaging that focuses on intergenerational wealth transfer may resonate more with straight savers, indicating a need for more inclusive communication strategies [6] Recommendations for Financial Services - The study calls for the financial services industry to modernize retirement education by recognizing diverse family structures and life goals, training professionals to understand varying savings motivations, and ensuring retirement communications engage all savers equally [9] - The research highlights the necessity of inclusive financial education and communication to better serve a diverse clientele [6][9] Company Overview - PensionBee is a leading retirement savings provider managing over $9 billion in assets and serving approximately 300,000 customers globally, focusing on simplicity, transparency, and accessibility [8]

Core Insights - A significant number of Americans are unaware of the automatic rollover of their 401(k) accounts into low-yield Safe Harbor IRAs, leading to billions in stranded assets and potential retirement savings derailment [1][3]. Group 1: Lack of Guidance - Up to 2 million old 401(k) accounts are automatically rolled over into Safe Harbor IRAs each year, often without the owners' knowledge [1]. - Over 40% of Americans attempting to roll over a left-behind 401(k) abandon the process due to a lack of guidance [5]. - More than half of survey respondents (53%) indicated that their former employer did not assist them in understanding their 401(k) options upon departure [7]. Group 2: Stagnant Savings - Over 75% of accounts rolled into Safe Harbor IRAs remain inactive for more than three years, contributing to $28 billion in stagnant savings this year, projected to reach $43 billion by 2030 [3]. - Most Safe Harbor IRAs are held in cash-like products, resulting in minimal interest earnings and high fees, which can erode small balances over time [5]. Group 3: Awareness Gap - Only 20% of savers can accurately state the rules and dollar thresholds for Safe Harbor IRAs, indicating a significant awareness gap [6]. - One in three respondents (33%) received no information about their 401(k) options, and only 19% had their options clearly explained during exit interviews [7]. Group 4: Forced-Out Balances - Employers transfer approximately 1.7 million 401(k) accounts into Safe Harbor IRAs annually, with projections suggesting this will rise to 2.2 million by 2030 [5].