At a glance
- Their former-plan assets average $90,000 per participant, according to Escalent's Cogent Syndicated division, which published the report Oct.
- Black and African-American participants made up 25% of likely rollover candidates, up from 15%, and Hispanic and Latino participants rose to 21% from 17%.
- Davis cautioned that firms face more friction with younger participants, who are more likely to feel overwhelmed by paperwork, confused by the rollover process and worried about making costly mistakes.
According to the 2026 DC Participant Planscape report, 46% of defined-contribution participants still holding assets in a former employer's plan say they are highly likely to open a rollover IRA within the next 12 months. Their former-plan assets average $90,000 per participant, according to Escalent's Cogent Syndicated division, which published the report Oct. 14. The figure reflects stated inclination, not completed transfers.
Gen Z's share of likely rollover candidates rose to 22% from 12% year over year, while millennials' share rose to 44% from 37%, Escalent found. Together the two cohorts account for 66% of likely candidates.
Black and African-American participants made up 25% of likely rollover candidates, up from 15%, and Hispanic and Latino participants rose to 21% from 17%. The firm surveyed 4,006 plan participants across the US between July 7 and July 28, 2026.
Life events, not just job changes
"Beyond job changes and open enrollment, Gen Z and Millennial participants are markedly more receptive to rollover IRA education when experiencing major life events like marriage, divorce or birth of a child or upon hitting key professional milestones," said Sonia Davis, lead report author and a senior product director in Escalent's Cogent Syndicated division.
Davis cautioned that firms face more friction with younger participants, who are more likely to feel overwhelmed by paperwork, confused by the rollover process and worried about making costly mistakes. Those barriers can stop intent from becoming action, she said. The research also found that 22% of participants plan to roll assets to a brand-new firm.
Reported by the Practice management desk from InvestmentNews. Published . Corrections