Benefits August 23, 2007

IRA Rollover Market Makes Strong Comeback

August 23, 2007 (PLANSPONSOR.com) - The IRA rollover market grew by 38% from 2004 to 2007, rebounding from an 11% decline in assets rolled over from 2000 to 2004.
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A press release from the Spectrem Group on its new report, “The IRA Rollover Market 2007,” said assets rolled over from other retirement accounts, primarily savings plans such as 401(k)s and 403(b)s, to IRAs in 2007 stood at $489.3 billion, up from $353.4 billion in 2004.

The number of individuals conducting IRA rollovers has also increased, up 28% to 7.4 million in 2007 from 5.8 million in 2004, the press release said. From 2000 to 2004, the number of individuals conducting rollovers fell 9%, from 6.4 million to 5.8 million.

Spectrem’s research also found that two-thirds (67%) of individuals who rolled a balance over to a personal IRA did so using a professional adviser. “In conjunction with the end of the bear market earlier in the decade, participants – especially those with balances of $100,000 or more – have clearly become more willing to roll assets over. This presents new opportunities for providers and advisers,” said George H. Walper, Jr., President of Spectrem Group, in the press release.

The report can be purchased by contacting Spectrem Group at (312) 382-8284, or by visiting www.spectrem.com .

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