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.
No doubt this will cause critics to claim evidence of 401k plans not working.