Oh my, what are people thinking? Seems like the inclination to lock in ones losses is alive and well.
The news comes on earlier activity Monday, which saw a high level of activity (3.95 times the daily DC trading average) going towards fixed income.
For perspective, a “normal” level of relative transfer activity is when the net daily movement of participants’ balances as a percent of total 401k balances within the Alight Solutions 401k Index equals between 0.3 times and 1.5 times the average daily net activity of the preceding 12 months.
Source: 401k Participants React Poorly in Market Meltdown – 401K Specialist
No doubt this will cause critics to claim evidence of 401k plans not working.
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