According to a new report released by Cogent Research, most people who have more than $100,000 saved aren't particularly enthusiastic about the management of their 401(k) -- unless they are lucky enough to belong to a plan administered by one of four companies: TIAA-CREF, Vanguard, Fidelity Investments or T. Rowe Price.
TIAA-CREF tops the list with 63 percent of participants with more than $100,000 saved in plans they administer satisfied with the job they do. Vanguard comes in second with 59 percent of their affluent plan participants happy. Fidelity satisfies 55 percent of good savers, while T. Rowe does just about as well with 54 percent.
Cogent also found that the affluent savers it studied have $350 billion sitting in 401(k)s at former employers. About 42 percent say they plan to roll these into an IRA in the coming year. This is a big opportunity for these investment companies.
If you're one of the people about to do one of these rollovers, study up on your retirement planning choices. Cogent found that Fidelity is likely to get 20 percent of this rollover money; Vanguard 7 percent; Wells Fargo, 5 percent; Charles Schwab, 5 percent; and Merrill Lynch, 3 percent.
You don't have to put all the money in one place, but it's wise to do a direct rollover, no matter which company or companies you choose to manage your money. Otherwise, you may miss the 60-day window and owe the IRS.