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<i>Commentary:</i> America's Modern 'Throwaway': 401(K) Retirement Savings
Following World War II, America saw the rise of a “throwaway” society — consuming, squandering and discarding vast quantities of national resources. Gradually, an awakening occurred as we realized that conservation was a more-sustainable path. Recycling models emerged, and once fully-adopted, they became deeply-ingrained in our psyches and formed a pillar of corporate social responsibility.
Today, a similar awakening is sorely-needed in America's 401(k) system, where plan sponsors and service providers turn a blind eye to cashout leakage, the destruction of retirement savings that occurs after participants change jobs.
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