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Article: American Express National Survey Finds Multiple and Duplicate Retirement Accounts Pervasive; Benefits of Consolidation, Real Diversification Not Understood by Most Americans.
- Article from:
- Business Wire
- Article date:
- February 9, 2004
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Business Editors
MINNEAPOLIS--(BUSINESS WIRE)--Feb. 9, 2004
Almost one half of all Americans own two or more of the same type of retirement accounts, such as a 401k account, a Roth IRA or a traditional IRA, according to an American Express (NYSE:AXP) Personal Economy Survey spotlighting Retirement Savings. The survey also revealed that while three out of every four workers have a 401k account with their current employer, almost one-third have left their retirement assets behind with a former employer.
"Multiple account ownership is becoming more common because fewer and fewer Americans are staying with one company or one career over their ...