What does “rollover” or “consolidation” mean for a retirement plan? 
A rollover or consolidation is when a participant moves retirement plan assets from a former employer’s retirement plan into their current plan (or otherwise consolidates multiple retirement-plan accounts). This lets participants consolidate workplace retirement savings into fewer accounts, making long-term management simpler.  

 

Which types of retirement plans can be rolled over or consolidated? 
Typically, defined-contribution plans such as 401(k), 403(b), 457, and similar workplace retirement plans are eligible for rollovers— as long as plan rules permit it.  

 

When should someone consider consolidating or rolling over old retirement plans? 
Many participants end up with multiple retirement plans after changing jobs over the years, and old accounts may be forgotten or neglected. Consolidation is especially beneficial when you want to simplify your retirement savings, maintain oversight, and avoid the risk of lost or forgotten accounts. Consort exists to make this process easier and more reliable. 

 

How does Consort make rollovers easier for participants? 
Consort provides a streamlined, guided experience that helps participants consolidate retirement assets without the confusion, delay, or friction common in legacy processes. By simplifying the journey and improving clarity, Consort reduces the common pitfalls that lead to plan leakage and incomplete rollovers. 

 

Does using Consort require participants to fill out confusing paperwork or wait in long queues? 
No — our process is designed to minimize friction. Participants are guided through a clear, intuitive, step-by-step journey. The goal is to make rollovers as seamless and participant-friendly as possible. 

 

Will assets remain protected when using Consort? 
Yes. Consort is built with enterprise-grade standards around security, compliance, and governance. When participants roll over or consolidate via Consort, their assets retain their tax-deferred status and remain within regulated retirement-plan frameworks. 

 

After leaving an employer, what are the typical options for a 401(k) or similar plan? 
Common choices include: 

• Moving savings into a new employer’s plan 

• Abandoning the money in the former plan 

• Consort helps participants evaluate and, if desired, consolidate into better-suited retirement-plan solutions. 

• Rolling over into an Individual Retirement Account (IRA), losing the benefit of institutional pricing and protection. 

 

What are the advantages of rolling over rather than cashing out or leaving funds behind? 
Benefits often include: better oversight of retirement savings, reduced risk of lost or forgotten accounts, simpler long-term retirement planning, and continued growth under tax-deferred status. Consolidation reduces complexity and increases clarity — especially useful when participants have multiple accounts. 

 

As an advisor or plan provider, what does Consort give me in terms of visibility and workflow? 
When a participant initiates a rollover via Consort, advisors receive timely visibility into the request — including information such as source accounts, approximate amounts, and status updates. This enables more effective, informed guidance without relying on manual status chasing or fragmented paperwork. 

 

 

Will implementing Consort disrupt existing provider recordkeeping systems? 
No. Consort is designed to overlay existing workflows. Our goal is to add a modern, participant-centric layer that streamlines rollovers and engagement — without requiring significant changes to your existing systems. 

 

Does Consort increase administrative burden for providers, advisors, or TPAs? 

Quite the opposite. By streamlining and standardizing rollover workflows — replacing manual, fragmented processes with a unified, guided solution — Consort reduces workload, improves consistency, and increases rollover completion without adding complexity. 

 

Are rollovers handled in a way that preserves tax-deferred status? 
Yes. Proper rollovers preserve the tax-advantaged status of retirement assets. Consort is built to support compliant, institution-grade rollover flows that maintain retirement plan integrity. The principles follow the standard practices for qualified retirement plan rollovers.   

 

What might happen if assets are not rolled over or consolidated after leaving a job? 
When retirement accounts are left inactive — especially small-balance accounts — there’s increased risk that they’re forgotten, lost, or subject to cash-out or forfeiture under certain plan provisions. Consolidation reduces this risk and helps participants keep track of all their retirement savings. 

 

How does a participant begin a rollover via Consort? 
Participants may begin via a personalized link (sent by the provider or advisor) when consolidating assets — or during enrollment. From there, Consort guides them through a user-friendly, white-labeled, step-by-step process to complete the rollover. 

 

Who can use Consort? 
Consort is built for institutions (providers, recordkeepers, TPAs), advisors, and directly supports participants. Whether your institution manages thousands or millions of participants — Consort is designed to scale.