Roll Over but Don't Play Dead
The Survey of Consumer Finances (SCF) was referenced in a January 17, 2007 article in MarketWatch (Dow Jones) about people who take money out of their 401(k) plans after leaving a job. According to the MarketWatch story, the 2004 SCF found that more than 40% of distributions from a 401(k) were taken in cash. NORC conducted the 2004 SCF on behalf of the Federal Reserve Board. The next round of data collection for the survey begins in 2007.