I get that what you're describing would be "better" but sounds like a very small deal. How often are you switching jobs that rolling all those 401ks is a real burden?
The reality behind it is that 401k administration is a heavy and expensive process and the reason it's all pooled together at one provider is that. Obviously once you're done, you can take it anywhere into an IRA.
> I get that what you're describing would be "better" but sounds like a very small deal. How often are you switching jobs that rolling all those 401ks is a real burden?
It's not just the rollovers when you switch jobs. It's also being locked into whatever funds (and fees) the plan your company selected offers. Especially given you can go standup a full 401k for yourself if you are self employed for free (at Fidelity amongst other places).
