SOURCE: Claritas Inc.

January 16, 2007 08:00 ET

Proactive Approaches Stand Out as Primary Triggers for Rolling Over Retirement Accounts

Unique Market Audit Re-Contact Survey Also Showed That the Highest Percentage of Rollover Funds Went to Investment Companies

SAN DIEGO, CA -- (MARKET WIRE) -- January 16, 2007 -- When looking at the primary triggers for rolling over a 401(K) to another financial institution it's not surprising to the experts to see that most people do it only when they either change jobs or retire, but what does stand out is that nearly 20 percent are taking the initiative in making a change, according to recent findings from a unique, re-contact survey conducted through the Claritas Market Audit®. The Market Audit is a comprehensive survey of household financial behavior conducted by Integras, the advanced analytical services division of market research leader Claritas Inc.

"It's not that surprising that a preponderance of the respondents said they rolled over 401(Ks) only upon switching jobs or retiring, since the investment industry anticipates funds to be generated by these two events. But, what is interesting is that almost 20 percent indicated they are taking a more proactive approach toward retirement planning, which is very good news for the industry," said Jane Crossan, Claritas Vice President of the Financial Services Group.

The survey, which was part of an exclusive consumer study jointly sponsored by Integras and financial services leader PFPC called Understanding Roll Over Triggers, found that while a combined 67 percent of the nearly 1,300 Market Audit respondents re-contacted (for the study) cited switching jobs and retirement as the top two reasons they moved their 401(K), a total of 19 percent took a proactive approach by either consolidating accounts, seeking a return on investment or conducting legacy planning. The remaining 14 percent fell under the "Other" category.

The survey also showed that investment companies received the majority of the rollover funds at 41 percent, with brokerages and banks/credit unions receiving 30 percent and 22 percent respectively. Further, Boomer men (ages 40-60) were more likely to roll over to investment companies and Boomer women to brokers, banks or other types of investment companies.

As for how much was rolled over, the average amount was $37,000. Breaking it down further, significantly more men rolled over larger amounts than women, with 47 percent of the men reporting they moved accounts of $50,000 or higher, compared to 29 percent of the women. Not surprisingly, the highest percentage of respondents to roll over funds in the $50,000-plus range -- 60 percent -- were more than 60 years old. Conversely, 78 percent of those under 40 years old rolled over less than $25,000.

Elsewhere, 49 percent of the respondents reported that they also later invested additional funds with the firm where they executed the rollover, with some firms doing a better job than others of pulling in those funds. Among the companies represented in the survey, Wachovia and Vanguard performed better in this respect at 64 percent and 60 percent respectively, while American Funds and Fidelity Investments fell slightly below the average at 45 percent and 44 percent respectively.

For more information on the study and its findings call 1-800-866-6520, ex. 516.

About PFPC

PFPC (, a member of The PNC Financial Services Group Inc. (NYSE: PNC), is one of the nation's largest full-service mutual fund transfer agents and a leading provider of processing, technology and business solutions to the global investment industry. The PNC Financial Services Group, Inc. ( is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.

About Claritas

Since 1971, San Diego-based Claritas has been the pre-eminent source of accurate, up-to-date marketing information about people, households and businesses within any geographic area in the United States. Its target marketing services are aimed at reducing the cost of customer acquisition and growing customer value. Claritas offers industry-leading consumer segmentation systems, consulting services and software applications for site analysis, advertising sales and customer targeting. Claritas is a division of VNU, a global information and media company with leading market positions and recognized brands in marketing information (ACNielsen), media measurement and information (Nielsen Media Research) and business information (Adweek, Billboard, The Hollywood Reporter and Computing). To learn more about Claritas and VNU products and services visit their web sites at and

Contact Information

  • Contact:
    Stephen F. Moore
    Claritas Inc.
    (858) 677-9634
    Email Contact