Auto Portability - Media Coverage

As a key retirement savings public policy initiative, auto portability is receiving a lot of media attention. Find out who is saying what about auto portability.

401(k) Fridays
Mar
23
2018

When 401(k) Participants Go Missing: How It Happens, The Impact & What To Do!

RCH Founder, President and CEO Spencer Williams speaks with Rick Unser of 401(k) Fridays, taking on the old problem of missing participants, as well as auto portability, the new solution that may help keep participant information current, prevent cashout leakage and consolidate participants' retirement savings within the 401(k) system.

401k Specialist
Jul
19
2018

401k Specialist Features Recent Retirement Savings Portability Developments

401k Specialist features a July 2018 article by RCH's Tom Hawkins, addressing recent public policy activities on the issue of retirement savings portability. In his article, Hawkins examines three developments, all taking place in late June, and looks ahead to the anticipated delivery of an Advisory Opinion by the Department of Labor on auto portability.

May
23
2018

401k Specialist: Understanding (And Solving) The Problem Of Women’s 401k ‘Leakage’

At a May 22nd, 2018 Women's Institute for a Secure Retirement (WISER) roundtable, RCH EVP Tom Johnson debuts new women's 401(k) cashout leakage statistics. This important new data highlights the challenges that women face in preserving their small-balance 401(k) retirement savings when changing jobs, and also points to the promise of auto portability to preserve these savings in order to achieve higher balance levels, where more virtuous behaviors can prevail.

Apr
02
2018

Are You All-In For A 401k Roll-In?

In his 4/02/18 article for 401k Specialist, Tom Hawkins asks plan sponsors to consider where they stand on encouraging rollovers into their 401(k) plan ("roll-ins") from new participants. Presenting the historical progression of roll-ins from 2012 to present, Hawkins then describes 3 levels of roll-in support that plan sponsors can offer. The most effective, says Hawkins, is Level 3, where plan sponsors adopt a facilitated roll-in service, which makes the process worry- and hassle-free for participants.

Mar
14
2018

401k Specialist: How Bad Is The 401k ‘Missing Participant’ Problem?

In his March 14, 2018 article in 401k Specialist, Editor John Sullivan covers the new, joint survey conducted by Boston Research Technologies (BRT) and RCH on the problem of missing participants. The article quotes RCH Founder, President and CEO Spencer Williams and Sullivan notes that the findings are "another arrow in the quiver for 401k auto portability."

Feb
13
2018

Why We Urgently Need A ‘Sustainable’ 401k Defined Contribution System

In his latest article in 401k Specialist, RCH's Tom Hawkins makes the case for creating a 'sustainable' 401(k) defined contribution system. According to Hawkins, the current 401(k) system is unsustainable due to 1) rampant cashout leakage, 2) an explosion of small-balance accounts and 3) a surge in missing participants. Auto portability, says Hawkins, can address these problems and bring sustainability to our defined contribution system.

Jan
22
2018

2 Important Retirement Plan Initiatives Moving Forward

With "Rothification" in the rear-view mirror in 2017, retirement savings policymakers have begun turning their attention to other, more-promising initiatives in 2018 -- namely, auto portability and missing participants.

Jan
02
2018

401k Specialist: Why Auto Portability Makes Everything Better

Great all by itself, auto portability also makes other retirement savings public policy initiatives a lot better.

Oct
18
2017

What To Do About Missing 401k Participants

RCH's Tom Hawkins examines the American Benefits Council's recent letter to the Department of Labor, pointing out the Council's understanding of the root causes of missing participants.

Sep
25
2017

The ‘Problem’ Of Small 401k Accounts (And What To Do About It)

New research shows that the number of active, small-balance 401(k) accounts is growing, creating problems for plan sponsors and participants.

Aug
17
2017

401k 'Cashout' Craziness Continues

In his 8/17/17 article in 401kSpecialist, RCH's Tom Hawkins delivers an update on RCH's National Retirement Savings Cashout Clock.

Jun
10
2017

401kSpecialist Features Auto Portability Benefits

In his latest article in 401kSpecialist, RCH’s Neal Ringquist identifies the primary beneficiaries of Auto Portability.

May
17
2017

Tick Tock: Introducing The Retirement Savings ‘Cash-Out Clock’

401k Specialist introduces Retirement Clearinghouse's National Retirement Savings Cash Out Clock, which depicts 2017 401(k) cash out leakage in real time.

Apr
24
2017

Why Retirement Savings Need To Be ‘Recycled’

In his 4/24/17 article in 401kSpecialist, RCH's Tom Hawkins explains why we're more environmentally conscious, not fiscally conscious.

Apr
07
2017

401(k) Participants Would Save $2 Trillion With Auto Portability

In his 4/6/17 article in 401kSpecialist, John Sullivan highlights the latest EBRI research that places the value of Auto Portability to 401(k) participants at $2 trillion.

Mar
14
2017

A Stealth Solution to America's 401(k) Savings Crisis

In a March 2017 article in 401kSpecialist Magazine, RCH EVP Neal Ringquist contends that Auto Portability has begun to emerge as a "stealth" solution for the serious problem of 401(k) cashout leakage.

Feb
28
2017

401kSpecialist: Big Changes Coming for Small 401k Accounts

In his 2/28/17 article in 401kSpecialist, RCH's Tom Hawkins addresses the big changes ahead for small 401(k) accounts, driven by Auto Portability.

Feb
17
2017

401kSpecialist: Good Intentions, Bad Outcomes With Small 401(k)s

In 401KSpecialist Magazine, Neal Ringquist takes a hard look at a legislative recommendation to increase the limit for automatic rollovers to $10,000.

Jan
24
2017

RCH in 401KSpecialist: How to Remove 'Friction' from the 401(k) System

In his 1/24/17 article in 401KSpecialist, RCH's Tom Hawkins summarizes the issue of 'friction' in our 401(k) system, focusing on the recent, joint EBRI-RCH testimony before the ERISA Advisory Council by Tom Johnson and Craig Copeland.

Dec
30
2016

RCH in 401(k) Specialist: How Auto Portability Will Bridge the Minority Participation Gap

RCH's Tom Hawkins addresses how Auto Portability will help increase minority 401(k) participation by increasing auto enrollment.

Oct
26
2016

RCH in 401K Specialist Magazine: Is Adoption Of 401k Auto-Enrollment Decreasing?

Tom Hawkins shares with 401k Specialist Magazine, "Why the industry is losing steam?"

Sep
22
2016

Hidden Gem in EBRI-ICI Study: Synthetic Tenure

Neal Ringquist reviews the recent EBRI/ICI study and discovers a hidden gem: synthetic tenure.

Sep
08
2016

Does 401k 'Auto Portability' Really Work? Yes!

Does 401(k) Auto Portability really work? The answer -- according to RCH's Spencer Williams and Neal Ringquist -- is an emphatic "yes." In their joint article in 401KSpecialist, Williams and Ringquist point to the Auto Portability Simulation (APS) model to support their claims.

Aug
23
2016

RCH in 401K Specialist Magazine: Why Small Balance 401k Distributions Are Falling Through The Cracks

Cash-outs are at epidemic levels; Why are small 401(k)s getting swallowed?

Aug
10
2016

RCH in 401kSpecialist Magazine: The Power Of 401K Auto Portability: A Case Study

Closely examining the year-by-year results, we noticed something odd; Does 401(k) auto-portability really pay off?

Aug
04
2016

RCH in 401K Specialist Magazine: How To Curb 401k Cash-Out Leakage

The problem is particularly acute for small-balance 401(k) accounts; Leakage can make a 401(k) go splat.

Aug
01
2016

RCH in 401K Specialist Magazine: 401k Auto Portability Goes To Washington

What happens when participants change jobs? The next big 401(k) issue to hit Washington lawmakers could be auto-portability.

Dec
18
2015

401kSpecialist Highlights Auto Portability, RCH

John Sullivan highlights the rise of Auto Portability as an emerging solution to address the problem of leakage.

401kTV
Nov
27
2017

401kTV Features Boston Research Technologies' Findings on Auto Portability

401kTV's Robyn Kurdek examines Boston Research Technologies' research on the initial launch of auto portability.

Jun
01
2017

RCH Cash Out Leakage Video Featured on 401kTV

401kTV has featured an RCH video "The Fundamentals of 401(k) Cash Out Leakage."

Apr
06
2017

401kTV: Retirement Plan Portability Important to Every Plan Sponsor

401kTV's Tim Kelly explores Auto Portability, and makes a strong case that it's important to every plan sponsor, due to America's mobile workforce and adverse outcomes at job change. Kelly quotes Spencer Williams and also embeds video from the recent forum in Washington, DC: "Retirement Plan Portability & Public Policy: Unlocking the potential in portability."

Jan
19
2017

RCH Releases Video "The ABCs of Auto Portability"

RCH releases a video entitled "The ABCs of Auto Portability" -- providing viewers with a basic understanding of how 401(k) Auto Portability works.

Nov
07
2016

401KTV Features RCH Video on Plugging 401(k) Leakage

On 11/7/16, 401KTV.com featured the RCH video "What Plan Sponsors Can Do to Plug 401(k) Leakage."

Oct
19
2016

401KTV Features RCH CEO Spencer Williams

In the first of an ongoing series of interviews, 401KTV's Editor in Chief Fred Barstein talks to RCH CEO Spencer Williams about the basics of America's mobile workforce.

Sep
28
2016

401kTV Features "Five Misconceptions About 401(k) Leakage"

401kTV features the educational video "Five Common Misconceptions About 401(k) Leakage, designed to present plan sponsors with the fact and common misconceptions that surround the topic of leakage from the 401(k) system.

401kWire
Mar
29
2018

401KWire: What Is Driving the Missing Participant Issue?

In her 3/21/18 article, 401KWire’s Bridget Doyle extensively quotes RCH’s CEO Spencer Williams on the 401(k) industry’s missing participant problem. As Williams explains, there was little or no existing research on the problem, which spurred his decision to conduct a survey and to “do it from the plan participant’s perspective.” The new study, The Mobile Workforce's Missing Participant Problem, was released this month, and revealed that the problem is “very dynamic and growing” according to Williams. As Williams notes, new solutions are likely to emerge, best practices are hard to define -- but account consolidation will play a critical role.

*401KWire requires a subscription to read the article.

Nov
17
2017

How are participants reacting to Auto Portability?

401kWire's Cat Felle reports on the recently-released white paper by Boston Research Technologies.

Jul
26
2017

Retirement Clearinghouse Paves Path to Portability

401kWire's Chelsea Tyson reports on RCH's completion of the "first fully automated, end-to-end transfer of retirement savings from a safe harbor IRA into a participant's active account."

May
03
2017

RCH in 401kWire: Retirement Cashouts? There's a Clock for That

401kWire's Chelsea Tyson reports that Retirement Clearinghouse has recently launched its National Retirement Savings Cash Out Clock.

ASPPA NET
Apr
18
2018

ASPPA Net: Can Automation Help Solve the Missing Participant Problem?

In his 4/13/18 article, ASPPA Net's Ted Godbout examines key findings from the March 2018 RCH / Boston Research Technologies survey "The Mobile Workforce's Missing Participant Problem". Godbout covers the key highlights from the study, including the "remarkable" finding that 1/3 of the respondents had learned about accounts that they didn't realize they had, as well as the high percentage of respondents (60%) who would prefer an automated solution to update their address or consolidate their balances.

BenefitsPro
Jun
06
2018

RCH in BenefitsPro: 401(k) consolidation: What every plan sponsor should know

Plan sponsors know that an explosion of small-balance 401(k) accounts held by terminated participants can create problems, but few sponsors are clear on the underlying causes, and fewer still understand how they can utilize consolidation programs to solve the problem. In his 6/6/18 article in BenefitsPRO, RCH’s Tom Hawkins offers plan sponsors a framework to understand and address the small account problem, applying proven solutions that promote account consolidation.

Apr
20
2018

America’s modern 'throwaway': 401(k) retirement savings

In his article in BenefitsPro, RCH’s Tom Hawkins draws attention to the modern-day waste that occurs when 401(k) participants change jobs and prematurely cash out their retirement savings. Similar to America’s post-World War II “throwaway” culture which gave rise to modern recycling initiatives, Hawkins argues that the solution to 401(k) cashout leakage is auto portability, and predicts that it will catch on as key stakeholders acknowledge the severity of the problem, accept responsibility for solving it and act collaboratively to hasten auto portability’s widespread adoption.

Mar
16
2018

BenefitsPRO Features RCH Missing Participant Survey

BenefitsPRO's Marlene Satter adds her voice to the retirement industry media covering the ground-breaking Missing Participant Survey (link) by Boston Research Technologies and Retirement Clearinghouse. Satter cites key findings from the survey and quotes executives Warren Cormier and Spencer Williams.

Jul
05
2017

BenefitsPRO: Plug the Leaks Before Expanding Access

In a 7/5/17 article in BenefitsPRO, RCH's Tom Hawkins makes the case that 401(k) cashout leakage should be plugged, prior to expanding access to workplace retirement savings accounts.

Apr
04
2017

The African-American Retirement Crisis: How Auto Portability Can Help

The African-American community faces a retirement crisis. Auto portability may be able to help resolve the crisis by helping to prevent cashouts and move retirement savings balances forward.

Feb
07
2017

BenefitsPRO: Small Step for 401(k) Plans Equals Big Leap for Retirement Readiness

In his 2/6/17 article in BenefitsPRO, RCH EVP Neal Ringquist makes the case for Auto Portability. Ringquist likens Auto Portability to a "small step in the right direction" for 401(k) plans, yet one that produces a highly-positive impact on retirement readiness.

Nov
30
2016

RCH in BenefitsPro: An Infrastructure Project that Saves Trillions

In his 11/30/16 article in BenefitsPro, RCH's Tom Hawkins makes the case that reducing cashout leakage is one of America's most-beneficial infrastructure projects, saving trillions while costing taxpayers nothing.

Oct
17
2016

RCH in BenefitsPro: A different ‘save’ to consider during National Save for Retirement Week

Neal Ringquist and Tom Hawkins discuss how we can save retirement itself for National Save for Retirement Week via BenefitsPRO.

Aug
12
2016

RCH in BenefitsPro: EBRI forum examines causes of retirement plan leakage

Marlene Y. Satter addresses retirement plan leakage, topping the agenda at the 78th EBRI Policy Forum in May.

Aug
11
2016

RCH in BenefitsPro: Study: Here's one way to slow 401(k) plan leakage

Marlene Y. Satter, in her 8/11/16 article in BenefitsPro, takes a deeper look into the study from Boston Research Technologies and RCH.

May
13
2016


BenefitsPro Talks With Spencer Williams on Orphaned Accounts, Auto Portability Simulation

BenefitsPro's Nick Thornton interviews RCH President & CEO Spencer Williams as RCH unveils the Auto Portability Simulation (APS) model at EBRI's annual Policy Forum.

Jan
14
2016

Williams Provides Reaction to Presidential Call for Plan Portability

Spencer Williams provides BenefitsPro's Nick Thornton with his reaction to President Obama's call for retirement plan portability.

Dec
11
2015

RCH in BenefitsPro: Addressing the critical problem of 401(k) cash-outs

BenefitsPro's Nick Thonrton quotes RCH's CEO Spencer Williams on the problem of plan leakage through cash outs.

BlackRock DCFocus
Nov
16
2015

RCH EVP Tom Johnson Talks Auto Portability with BlackRock's DCfocus

RCH EVP Tom Johnson sat down with BlackRock's DCfocus publication to discuss Auto Portability.

Bloomberg
Oct
09
2015

Bloomberg's Steverman Laments Rollover Battle, Lauds RCH Auto Portability

Bloomberg's Ben Steverman describes his personal challenges to rollover his 401(k) account to an IRA.

Bloomberg BNA
May
16
2016

Bloomberg BNA: Auto Portability Key to Preventing Leakage


Bloomberg BNA's Sean Forbes covers the unveiling of the Auto Portability Simulation (APS) model at the 78th EBRI Policy Forum, and likes what he sees.

Consolidation Corner / RCH Blog
Jul
17
2018

Regulators and Policy Advocates Focus on Retirement Savings Portability

The most important portability development on the horizon is the DOL’s auto portability Advisory Opinion, which will provide guidance for plan sponsors on the automatic roll-in of small account balances previously forced-out into safe harbor IRAs.

Jul
06
2018

Auto Portability’s Role in Helping Women Save More for Retirement

Auto portability has become a leading retirement savings public policy initiative due to its proven ability to preserve small-balance defined contribution accounts. Now, research is indicating that, when it comes to women, auto portability could deliver even greater benefits by making it easier for women participants to preserve their 401(k) savings and help to put them on par with men to achieve financial wellness.

May
31
2018

401(k) Consolidation: What Every Plan Sponsor Should Know

Plan sponsors intuitively know that a proliferation of small-balance 401(k) accounts can create problems. But few sponsors are clear on the factors that give rise to small accounts, and fewer still understand how they can utilize portability programs to solve the problem.

May
23
2018

Understanding and Solving the Problem of Women’s 401(k) Cashout Leakage

At a May 22nd, 2018 Women's Institute for a Secure Retirement (WISER) roundtable, Retirement Clearinghouse (RCH) EVP Tom Johnson debuts new women's 401(k) cashout leakage statistics. This important new data highlights the challenges that women face in preserving their small-balance 401(k) retirement savings when changing jobs, and also points to the promise of auto portability to preserve these savings in order to achieve higher balance levels, where more virtuous behaviors can prevail.

Apr
17
2018

DC Plan Sponsor Priorities Should Include Plugging Leakage, Enabling Auto Portability

As we continue to make our way through the second quarter of 2018, now is a good time to reflect on defined contribution (DC) plan sponsor priorities for this year.

Mar
30
2018

Are you all-in on roll-in? Encourage new hires to rollover old 401(k) balances into your plan

Over the past six years, there has been a steady drumbeat pointing the way to increased portability and in-plan consolidation (roll-ins) as the next big strategic focus for 401k plans.

Mar
22
2018

No Plan is an Island

Just as no man is an island, no employer-sponsored retirement plan is an island. New hires who join a plan all come from other companies, where they were likely enrolled in their former-employer 401(k) plans. Similarly, participants who leave a plan when they change employers have accrued 401(k) savings that they will likely want to take with them.

Mar
13
2018

New Insights into the Problem of Missing Participants

Today, Boston Research Technologies (BRT) and Retirement Clearinghouse (RCH) issued a joint press release announcing the key findings from a survey examining the retirement industry’s missing participant problem. The survey, The Mobile Workforce’s Missing Participant Problem, is the first to examine the problem from the perspective of the participant and offers unique insights into its various dimensions.

Feb
23
2018

A New Solution to Tackle the Old Problem of Missing Participants

The problem of missing participants has taken on a new sense of urgency in light of widespread reports that the Department of Labor is focusing heavily on missing participants when auditing plan sponsors and record-keepers.

Jan
30
2018

Why America Urgently Needs a ‘Sustainable’ Defined Contribution System

America’s defined contribution system is unsustainable – urgently requiring an upgrade to effectively deliver on its intended goal – helping millions of Americans enjoy a timely and comfortable retirement.

Jan
11
2018

Two Retirement Public Policy Initiatives Moving Forward in 2018

Two retirement savings public policy initiatives – auto portability and the problem of missing participants – are very likely to see significant progress in 2018. Both initiatives enjoy strong bipartisan support, promise to streamline and strengthen America’s defined contribution system, and will preserve the retirement savings of millions of Americans by ensuring that their savings move forward when they change jobs.

Dec
28
2017

The Most Urgent New Year’s Resolutions for Plan Sponsors

RCH President & CEO Spencer Williams offers plan sponsors 3 crucial resolutions for 2018, including: 1) ending automatic cash-outs, 2) offering roll-ins as part of a financial wellness program, and 3) engaging all participants on crucial decision-making.

Dec
28
2017

Auto Portability Makes Everything Better

In his December 2017 Consolidation Corner blog post, Tom Hawkins writes about auto portability's special qualities. Great all by itself, auto portability also makes a lot of other retirement savings public policy initiatives a lot better.

Dec
11
2017

The Best Blueprint for Improving Retirement Security

RCH President & CEO addresses a blueprint for improving retirement security, incorporating the widespread adoption of auto portability.

Nov
15
2017

The Results Are In: Auto Portability is a Winner!

On 11/7/17, Warren Cormier of Boston Research Technologies published a white paper “Making the Right Choice the Easiest Choice: Eliminating Friction and Leaks in America’s Defined Contribution System.” The key findings of the research confirm that auto portability is a winner, with significant pent-up demand in our defined contribution system.

Nov
01
2017
Oct
25
2017

In Search Of: Guidance for Locating Missing Participants

This article focuses on the American Benefits Council’s specific recommendations to the DOL as set forth in their October 2nd, 2017 letter. The Council’s recommendations, if adopted, could establish a more complete, consistent and reasonable framework for plans to address the missing participant problem, going forward.

Oct
13
2017

Bringing Clarity to the Murky Problem of Missing Participants

The American Benefits Council delivered a letter to the Department of Labor (DoL), urging the DoL to act on the problem of unresponsive or missing participants.

Sep
18
2017

The Massive Explosion of Small 401(k) Accounts

The Growing Problem of Small Accounts and How to Defuse It

Aug
30
2017

The Exit Bonus Employers Never Intended to Pay

Without seamless plan-to-plan portability in place to preserve retirement savings when a participant changes jobs, many employers are unwittingly paying “exit bonuses” to terminated employees that they may never have intended to pay.

Aug
16
2017

The Cashout Clock is Still Ticking: Let’s Stop It!

On May 12th, Retirement Clearinghouse announced the National Retirement Savings Cashout Clock, a virtual clock that calculates 2017 year-to-date cashout leakage from America’s defined contribution system in real time.

Aug
09
2017

Small Accounts: The Root of Many Problems

Auto Portability is the Most Effective Weed Killer

Jul
25
2017

A Big Step Forward for Auto Portability

Auto portability is now live in America's defined contribution system, implemented by Retirement Clearinghouse and Conduent HR Services for the benefit of a mega plan sponsor's participants.

Jul
20
2017

Washington Recognizes Need for Retirement Plan Portability Solutions – Part 2

Senator Scott Letter, auto portability received an endorsement during a hearing on Capitol Hill this week.

Jul
05
2017

Rising Healthcare Costs Necessitate Healthy Retirement-Saving Habits

If you think of retirement savings as a key part of a healthy retirement, then anyone who has prematurely cashed out 401(k) savings during their working life has suffered a compound fracture that will require several stages of therapy to fully rehabilitate. But a cash-out isn’t the only impediment to a financially secure retirement for these hardworking Americans.

Jun
29
2017

Plug the Leaks Before Expanding Access to Defined Contribution Plans

In recent months, our attention has been drawn to some deserving public policy initiatives that would dramatically expand access to workplace retirement savings accounts and address the “access gap” encountered by millions of American workers who are presently offered no such option.

Jun
08
2017

Auto Portability: Who Will Benefit?

The ultimate beneficiary of Auto Portability is America’s mobile workforce – the qualified plan participants whose retirement savings are preserved.

Jun
01
2017

The Fundamentals of 401(k) Cashout Leakage

This video presentation provides viewers with the latest data characterizing the problem of 401(k) cashout leakage, a major challenge that faces 401(k) participants when they change jobs.

May
22
2017

The Rallying Cry for Improving Financial Wellness: ‘Eradicate Cash-Out Leakage In Our Time!’

RCH President and CEO Spencer Williams exhorts the American retirement system to eradicate the scourge of 401k leakage, which deprives millions of Americans of a timely or comfortable retirement.

May
17
2017

EBRI Policy Forum Delivers Latest Research on Auto Portability (Video)

Watch video of the 80th EBRI Policy Forum, where the latest research on auto portability is delivered by Jack VanDerhei and Spencer Williams.

May
12
2017

Announcing the National Retirement Savings Cash Out Clock

Retirement Clearinghouse has now launched a National Retirement Savings Cash Out Clock, focusing attention on the problem of 401k leakage.

May
04
2017

80th EBRI Policy Forum to Address Key Retirement Policy Issues

On Thursday, May 11th, the Employee Benefit Research Institute (EBRI) will conduct their 80th Policy Forum, sponsored by the EBRI Education and Research Fund (ERF). Hosted at the 20 F Street, NW Conference Center, the Forum is scheduled from 8:30am to 12:30pm.

Apr
26
2017

Automatic Cash-Outs Undermine Efforts to Enhance Financial Wellness

In the spirit of Financial Literacy Month, retirement plan sponsors are to be commended for their commitment to enhance financial wellness among participants.

Apr
24
2017

Why America’s Retirement Savings Needs Recycling

On Earth Day 2017, we’re seeing encouraging signs that the problem of retirement savings cash out leakage will finally get the attention that it deserves.

Apr
19
2017

New EBRI Research Finds $2T Saved From Automated Portability

As much as $2 trillion could be retained in the U.S. retirement systems if Auto Portability were fully implemented, according to new research by the Employee Benefit Research Institute (EBRI).

Apr
06
2017

Financial Wellness Requires Mending Fractured Retirement Savings

With millions of Americans suffering from fractured retirement savings, plan sponsors should take the initiative—and fulfill their fiduciary duty—by providing restorative care to their participants and eliminating obstacles to seamless retirement savings portability.

Mar
23
2017

March 30th Washington DC Forum to Showcase Retirement Plan Portability & Public Policy

RCH EVP Tom Johnson previews the upcoming 3/30/17 event "Retirement Plan Portability & Public Policy" to be hosted by the Financial Services Roundtable.

Mar
02
2017

Auto Portability Helps Everybody, and Hurts Nobody

Best of all, it can be implemented across the entire retirement system voluntarily, with little cost—and significant upside—to the private sector.

Feb
27
2017

Big Changes Coming for Small 401(k) Accounts

The pace of change in the world is fast, but slow in the retirement industry. All that is about to change in the world of small 401(k) accounts, where Auto Portability is getting serious attention from DC policymakers and centers of influence.

Feb
17
2017

Incubate Small Retirement Accounts, Don’t Throw Them Away

Neal Ringquist, RCH EVP, addresses the US Chamber of Commerce's legislative recommendation to increase the Automatic Rollover limit to $10,000.

Feb
02
2017

One Small Improvement for 401(k) Plans, One Giant Leap for Retirement Readiness

Today, America faces a different, more down-to-earth challenge: delivering our citizens a comfortable and timely retirement. And similar to the moon landing – a ‘small step’ in the right direction can have a huge impact on the course of our lives.

Jan
24
2017

How to Remove 'Friction' from the 401(k) System

To illustrate the types of situations that participants can encounter, as well as the value of a facilitated roll-in service continue reading Part 3.

Jan
24
2017

Auto Portability Simulation (APS)

This video presentation is designed to give the viewer a basic understanding of the Auto Portability Simulation (APS), which models the operation and benefits of Auto Portability.

Jan
19
2017

The ABCs of Auto Portability

This video presentation is designed to give the viewer a basic understanding of Auto Portability.

Jan
18
2017

LIMRA's Secure Retirement Institute Features Auto Portability Research

RCH's EVP Tom Johnson notes LIMRA's research and support of Auto Portability.

Dec
19
2016

Awash in a Sea of Small Accounts

APS is a robust, quantitatively-based simulation that measures the size, characteristics and behaviors of America’s increasingly mobile workforce.

Nov
30
2016

Preventing retirement plan leakage: An infrastructure project that saves trillions

The recent U.S. Presidential election brought renewed focus upon large infrastructure projects: massive, capital-intensive efforts required to rebuild America’s roads, bridges, railways and airports. Desperately needed, these projects could cost taxpayers hundreds of billions, perhaps even trillions of dollars.

Nov
15
2016

What is Synthetic Tenure, and Why is it Important?

The easiest way for a plan participant to achieve lifetime participation in the U.S. retirement system is to work for the same employer for 40 years or more.

Nov
04
2016

What Plan Sponsors Can Do to Plug 401(k) Plan Leakage

This video presentation is designed to provide qualified retirement plan sponsors with an overview of key actions that they can take in order to help reduce 401(k) plan leakage.

Oct
25
2016

All Aboard the Retirement Train

It’s ironic that, as we observe another “National Save for Retirement Week,” the retirement system we have in this country isn’t really a “system” at all.

Oct
25
2016

New Research Suggests Auto Portability Will Boost Auto Enrollment

When it comes to the 401(k) plan feature known as automatic enrollment, most industry observers seem to agree that it’s a good thing.

Oct
17
2016

A Different ‘Save’ to Consider During ‘National Save for Retirement Week’

As we prepare to observe National Save for Retirement Week (also known as “National Retirement Security Week”), scheduled for October 16-22, it’s a great opportunity to remember why we, as individuals, need to save for our retirement. But the sobering reality is that we are all being called upon to save retirement itself—by rescuing a retirement system that doesn’t work for millions of hardworking Americans.

Sep
27
2016

Five Misconceptions About 401(k) Leakage

This video presentation is designed to provide qualified retirement plan sponsors with an understanding of the facts and popular misconceptions surrounding the topic of 401(k) plan leakage.

Sep
22
2016

The One Solution Everyone in DC Agrees Upon: We Need Consolidation

There is one topic that everyone in Washington, D.C. seems to agree upon: the importance of consolidation in protecting Americans' retirement security.

Sep
13
2016

Consolidation: Make the Smart Decision the Easiest Decision

"Make the smart decision the easiest decision" seems like an obvious goal for plan sponsors when designing participant-directed retirement plans, and it's certainly driven the rapid adoption of the autos auto enrollment, auto deferral escalation, and auto investment options, such as target-date funds and managed accounts.

Sep
07
2016

Why retirement portability should become employers' next big focus

Time Sensitive! Open Immediately! A significant majority (65%) of participants will make their distribution decision within the first 365 days of their termination from their former employer.

Aug
09
2016

Why Small Balance Cash Outs Are Falling Through the Cracks

According to the recently released 2016 Willis Towers Watson U.S. Retirement Governance Survey, a major trend in retirement plan governance is the growing concern employers have for employees' retirement benefit adequacy and financial well-being.

Jul
28
2016

First Half of 2016: A Look-Back at the Headlines Driving a New "Auto" for 401(k) Plans

In the first half of 2016, not only has the retirement industry awakened to the problem of cashout leakage, but it's begun to acknowledge its root cause: a lack of retirement savings portability. At the same time, Auto Portability has emerged as the only viable solution to cashout leakage, delivering portability for the small-balance (less than $5,000) job-changer, automatically moving their balances forward when they change jobs and enroll in a new plan. Let's look-back at the first half of 2016 and see how Auto Portability may now be poised to become an "overnight success" in the not-too-distant future.

Jul
11
2016

Embracing A New Source of Plan Growth

In the wake of the Fiduciary Rule, providers of all stripes are broadly reevaluating their strategies for the participant and asset retention that is essential to growing their retirement plan businesses. Over the past two decades, providers have primarily looked to capture IRA rollovers as a means to grow retirement assets. The Department of Labor's new Fiduciary Rule creates challenges to that model. However, there is another, largely untapped, pool of assets within providers' reach that can fuel growth premature cash-outs. Auto portability, and portability solutions in general, represent a new and unique way to tap that potential source of growth.

Jul
01
2016

When it Comes to Saving for Retirement, Millennials Can Learn from Baby Boomers' Mistakes

In his 6/30/16 MarketWatch article, RCH President and CEO Spencer Williams suggests an inter-generational dialogue on the pitfalls to avoid when saving for retirement.

Jun
30
2016

RCH and EBRI Present Consolidated Testimony on Auto Portability before the ERISA Advisory Council

On June 8th, 2016 Retirement Clearinghouse (RCH) and the Employee Benefit Research Institute (EBRI) teamed up to present consolidated testimony to the ERISA Advisory Council on Auto Portability, the automation of plan-to-plan transfers for small accounts, when participants change jobs.

Jun
21
2016

Calls for Portability Solutions to Curb Cash Out Leakage Growing Louder

Cash out leakage, the premature withdrawal of retirement savings for non-retirement expenses, is a persistent problem in the retirement industry, and growing more pervasive as employee mobility increases.

Jun
16
2016

Interesting Finding Emerges from the Auto Portability Simulation

When the Auto Portability Simulation (APS) model was recently unveiled at EBRI's 78th Policy Forum, a lot of attention was paid to the "marquee" numbers, and rightly so. I am referring here to the $154 billion reduction in cashout leakage, as well as the $115 billion increase in plan-to-plan roll-ins that occur under the adoption of Auto Portability.

Jun
09
2016

Fast & Slow Leakage Produce a Flood of Outflows

First, let's review the definition of "leakage." If we think of total 401(k) savings as a bucket of water, "leakage" refers to those retirement savings that, like water in a leaky bucket, are withdrawn from the U.S. retirement system every year. There are three holes in the bucket: cash-outs at the point of job change, hardship withdrawals, and loan defaults. According to the U.S. Government Accountability Office, one of these holes is much bigger than the other two combined nearly 89% of all leakage is attributed to cash-outs that occur when a participant changes jobs. Hardship withdrawals and loan defaults together account for the remaining 11%.

Jun
06
2016

Advice college graduates won't hear at commencement: "Strive for 25"

As they set out into the working world, RCH President & CEO Spencer Williams counsels the Class of 2016 on the importance of developing good saving habits from the very beginning. Using the phrase "Strive for 25" Williams notes that the $25,000 retirement savings threshold is a critical milestone that all graduates should target.

May
20
2016

Auto Portability Simulation Model Unveiled at 78th EBRI Policy Forum

On May 12th, Retirement Clearinghouse President & CEO J. Spencer Williams unveiled the Auto Portability Simulation (APS) at the Employee Benefit Research Institute's 78th Policy Forum. The APS was developed by Retirement Clearinghouse in conjunction with Dr. Ricki Ingalls, Chair of Computer Information Systems at Texas State University, and Principal at Diamond Head Associates, Inc.

Apr
28
2016

Say What? The Arcane Lingo of Retirement Savings Portability

In virtually any area of specialty, a unique jargon evolves that is highly-specific to that field. To insiders using the lingo every day, it seems familiar and perfectly normal. To outside observers, it can feel like a foreign language -- with words, terms and acronyms that make no sense.

Apr
22
2016

For Earth Day: Consider How "Recycling" Could Apply to Our Retirement System

As we observe the 46th annual Earth Day this April 22nd, we appreciate the awareness that this event has brought to the need to protect our environment, the urgency that it is instilled in all of us, and the tangible results that have been achieved in so many important areas. Although we have much work to do, we have clearly come a long way since the "throwaway" culture that emerged following World War II.

Mar
15
2016

America’s Modern Throwaway – 401(k) Retirement Savings

When trying to shape our future, it is often helpful to understand our past.

Jan
13
2016

Washington Recognizes Need for Retirement Plan Portability Solutions

Clearly, Washington DC is now "getting it" when it comes to retirement plan portability. In November 2015, Senator Patty Murray and other influential members of Congress delivered a letter to Department of Labor Secretary Perez urging action on Auto Portability. Now, we have strong comments from President Obama in his final State Of The Union address on the need for more portable retirement savings.

Jan
04
2016

Auto Enrollment: The Unintended Consequences, Part II (Research)

In his December 1, 2015 article (The unintended consequence of 401(k) auto-enrollment), RCH CEO Spencer Williams exposes the linkage between auto enrollment and lower average account balances. Based on Form 5500 data, Williams' analysis presents some excellent examples of industries where average balances are significantly lower in plans that have adopted auto enrollment compared to plans that have not. RCH's Tom Hawkins follows up that article with his own analysis, extending Williams' earlier work.

Dec
15
2015

As 401(k) Cash Out Leakage Grows, So Does Need for Auto Portability

In his December 11th article in BenefitsPro (Addressing the Critical Problem of 401(k) Cash Outs), Nick Thornton draws much-needed attention to the magnitude of the 401(k) cash out leakage issue, due to the frictions associated with account portability when plan participants switch jobs. Thornton's article rightly emphasizes the need for automated portability similar to automatic enrollment and deferral increases - to effectively address the cash out problem.

Oct
27
2015

401(k) Force Outs: Recycle v. Landfill

Every day, we are reminded that recycling is the responsible thing to do: from the recycling bins we walk by, to the paper we use, and the cans and bottles that we drink from. All of us would agree that conservation of our precious resources is critical, so we gladly pitch in and do our part.

Sep
29
2015

A Blueprint for Lifetime Participation in Plans

How many of us will be so fortunate as to participate in an employer-sponsored retirement plan every day of our working careers? Or, for an even more uncommon scenario, how many of us will work for the same company for 30 or 40 years? Yet, as has been amply established by the Employee Benefit Research Institute (EBRI), those who can raise their hands and respond yes to either of these questions routinely show up in the top decile of savers who are well-prepared for retirement and these participants provide a clear blueprint for retirement-saving success.

Sep
28
2015

WISER Fall Forum to Explore Auto Portability As Solution to Reducing Cash Outs and Preserving 401(k) Assets

On Wednesday, September 30th, the Women's Institute For a Secure Retirement (WISER), in collaboration with Retirement Clearinghouse (RCH), hosts a Forum entitled The Leading Edge - Auto Portability: Solution to Prevent Cash Outs & Preserve 401(k) Assets.

Aug
11
2015

Automatically Moving Mandatory Distributions Forward

The mandatory distribution-to-Safe Harbor IRA plan feature as commonly utilized today was conceived in 2001 and launched in 2005 with good intentions, and for valid reasons. A mobile workforce, combined with a lack of retirement savings portability, had created a burgeoning problem for plan sponsors.

Jul
17
2015

Safe Harbor IRAs Are Not Always Safe

Plan sponsors can help themselves and their participants over the long term by rolling balances of $5,000 or less from inactive participants into safe harbor IRAs. However, for various reasons discussed below, many safe harbor IRAs do not live up to their name and could leave sponsors with unexpected fiduciary liability.

Jun
16
2015

How to Make Mandatory Distributions More Fiduciary Friendly

Mandatory distributions from employer-sponsored plans are a creation of regulation's specifically, a section of ERISA that allows plan sponsors to distribute accounts with less than $5,000 out of a qualified plan and into a safe harbor IRA.

May
15
2015

Enhance Auto Enrollment with Auto Portability

The Pension Protection Act of 2006 created a safe harbor for retirement plan sponsors to automatically enroll employees in their plans. This provision was designed to help plan sponsors and participants over the long term, and it has but it also unintentionally fueled a surge in small accounts, hurting both constituencies. Auto Portability is a solution that promises to address the problems associated with automatic enrollment. The benefits are huge -- particularly for high-turnover industries.

Apr
11
2015

Reduce Plan Fees by Increasing Account Balances

Plan costs can be lowered by increasing average balances, and average balances can be increased through auto portability, says RCH President & CEO Spencer Williams.

Mar
16
2015

Why Dump Mandatory Distributions in a Landfill When You Can Recycle?

Mandatory distributions of small 401(k) accounts when participants separate from service provide many benefits for plan sponsors, including lower administrative costs and higher average account balances.

Employee Benefit Adviser
Apr
27
2018

RCH in EBA: The hidden DC plan sponsor priority: enabling auto-portability

In his latest article in Employee Benefit Adviser, RCH Founder, President & CEO Spencer Williams urges plan sponsors to adopt two critical, but often overlooked priorities for defined contribution plans: reducing cashout leakage and enabling auto portability. Today, plan-to-plan portability is both time-consuming and expensive, resulting in a large number of stranded accounts and cashout leakage, particularly for small accounts. Citing EBRI and other research, Williams demonstrates that enabling seamless plan-to-plan portability through auto portability could dramatically improve participant outcomes, enhance financial wellness and even reduce the incidence of missing participants.

Apr
06
2018

Advisers: Here’s how you improve the broken 401(k) plan system

In his April 5th 2018 article in Employee Benefit Adviser, RCH’s Founder, President & CEO Spencer Williams argues that just as no man is an island, no employer-sponsored retirement plan is an island. He continues on to detail that new hires who join a plan all come from other companies, where they were likely enrolled in their former-employer 401(k) plans; and similarly, participants who leave a plan when they change employers have accrued 401(k) savings that they will likely want to take with them.

Dec
15
2017

A blueprint for reuniting orphaned 401(k) accounts with their owners

In Employee Benefit Adviser, RCH President and CEO Spencer Williams describes a blueprint for retirement security that includes obtaining behavioral research confirmation, guidance from Washington, and commercial implementation – a blueprint currently being followed by auto portability.

Apr
12
2017

RCH in EBA: Why mending fractured retirement savings is key to financial wellness

In his 4/6/17 article in Employee Benefit Adviser, RCH's Spencer Williams likens the pain of ill health to the pain that many 401(k) participants suffer when they cash out or leave savings accounts behind at their former employer.

Apr
07
2017

Auto Portability: Advisers seek innovative ways to increase retirement savings

Employee Benefit Adviser's Cort Olsen covers the recent DC forum co-hosted by Retirement Clearinghouse, EBRI, WIser and Financial Services Roundtable.

Jan
30
2017

RCH's Spencer Williams Featured in Employee Benefit Adviser

RCH Spencer Williams debunks two common myths about retirement savings: 1) that employees are on their own when transitioning retirement savings after changing jobs and 2) that IRAs are better than 401(k) plans due to "free and ....unlimited investment options."

Employee Benefit News
Jul
06
2018

RCH in EBN: Is auto-portability the key to helping women save more in retirement?

Auto portability has become a leading retirement savings public policy initiative due to its proven ability to preserve small-balance defined contribution accounts. RCH CEO Spencer Williams summarizes new research indicating that, when it comes to women, auto portability could deliver even greater benefits by making it easier for women participants to preserve their 401(k) savings, helping put them on par with men to achieve financial wellness.

Jun
25
2018

RCH in EBN: The hidden DC plan sponsor priority: Plugging leakage, enabling auto-portability

In his latest article in Employee Benefit News, RCH Founder, President & CEO Spencer Williams urges plan sponsors to adopt two critical, but often overlooked priorities for defined contribution plans: reducing cashout leakage and enabling auto portability. Today, plan-to-plan portability is both time-consuming and expensive, resulting in a large number of stranded accounts and cashout leakage, particularly for small accounts. Citing EBRI and other research, Williams demonstrates that enabling seamless plan-to-plan portability through auto portability could dramatically improve participant outcomes, enhance financial wellness and even reduce the incidence of missing participants.

May
21
2018

RCH in EBN: 401(k) account consolidation: The key to reducing lost participants

In his latest article in Employee Benefit News, RCH’s President & CEO Spencer Williams takes on the predicament of missing participants, making the case that widespread adoption of auto portability is the most effective solution to the problem. Supporting his views with foundational research, Williams points to auto portability’s twin benefits of locating current addresses and consolidating small, stranded accounts as outcomes that collectively satisfy plan sponsors' fiduciary responsibilities, create financial wellness for participants and preserve $1.5 trillion in retirement savings over a generation.

Mar
29
2018

Employers: Here’s how you improve the broken 401(k) plan system

In his March 29th 2018 article in Employee Benefit News, RCH’s Founder, President & CEO Spencer Williams argues that just as no man is an island, no employer-sponsored retirement plan is an island. He continues on to detail that new hires who join a plan all come from other companies, where they were likely enrolled in their former-employer 401(k) plans; and similarly, participants who leave a plan when they change employers have accrued 401(k) savings that they will likely want to take with them.

Mar
22
2018

No Plan is an Island

Just as no man is an island, no employer-sponsored retirement plan is an island. New hires who join a plan all come from other companies, where they were likely enrolled in their former-employer 401(k) plans. Similarly, participants who leave a plan when they change employers have accrued 401(k) savings that they will likely want to take with them.

Mar
02
2018

A new solution to tackle the old problem of missing 401(k)s

In his latest article in Employee Benefit News, RCH's Spencer Williams breaks new ground in addressing the age-old problem of missing participants. Citing new research from RCH and Boston Research Technologies showing that 67% of inactive plan participants can be found via "auto locate" technology, Williams argues that the auto locate process will revolutionize the location of missing participants and finally bring an end to the insanity of "doing the same thing over and over, and expecting a different result."

Jan
10
2018

3 ways employers can make their retirement plan more attractive in 2018

In his latest article in Employee Benefit News, RCH President & CEO Spencer Williams offers plan sponsors 3 crucial resolutions for 2018, including: 1) ending automatic cash-outs, 2) offering roll-ins as part of a financial wellness program, and 3) engaging all participants on crucial decision-making.

Dec
14
2017

A blueprint for reuniting orphaned 401(k) accounts with their owners

In his latest article for Employee Benefit News, RCH President and CEO Spencer Williams describes a blueprint that’s already been established for implementing a best practice default retirement plan feature, such as auto enrollment. The blueprint Williams describes includes obtaining behavioral research confirmation, guidance from Washington, and commercial implementation – a blueprint currently being followed for auto portability.

Nov
07
2017

How to reunite employees with their old 401(k) accounts

In his latest byline in Employee Benefit News, RCH Founder, President & CEO J. Spencer Williams addresses the need for an industry-wide retirement infrastructure, in the form of a private-sector clearinghouse.

Oct
05
2017

Why cyberattacks make a compelling case for auto-portability

RCH President & CEO Spencer Williams makes a compelling case that links recent cyberattacks to the need for auto portability.

Sep
06
2017

The exit bonus employers never intended to pay

RCH President & CEO Spencer Williams draws attention to the 'exit bonus' that employers unwittingly pay when participants cash out their matching contributions.

Aug
23
2017

Why small retirement accounts are the root of many problems

RCH Founder, President & CEO Spencer Williams addresses the problem of small accounts in his latest article in Employee Benefit News.

May
31
2017

RCH in EBN: The Rallying Cry for Improving Financial Wellness

Just as the global community united a half-century ago to eradicate smallpox, RCH's Spencer Williams makes the case that plan sponsors and providers can join together in common cause to put an end to 401(k) cashout leakage.

Apr
06
2017

RCH in EBN: Why mending fractured retirement savings is key to financial wellness

In his 4/6/17 article in Employee Benefit News, RCH's Spencer Williams likens the pain of ill health to the pain that many 401(k) participants suffer when they cash out or leave savings accounts behind at their former employer.

Mar
10
2017

Auto Portability Helps Everybody and Hurts Nobody

In his latest article in Employee Benefit News, RCH's President & CEO Spencer Williams makes the strong case that Auto Portability helps everyone and hurts no one.

Jan
05
2017

RCH in EBN: How auto-portability can improve retirement readiness for a mobile workforce

When the scope of the Auto Portability Simulation (APS) model was recently expanded to include accounts under $15,000, RCH uncovered astounding data regarding the size and extent of the "small account challenge."

Nov
18
2016

RCH in EBN: What is synthetic tenure, and why is it important?

Retirement Clearinghouse President and CEO Spencer Williams answers both questions in his recent commentary on Employee Benefit News.

Oct
19
2016

RCH in EBN: Why our retirement system is broken

In his October 18th article in Employee Benefit News, President & CEO Spencer Williams discusses the retirement system we have in the U.S.

Sep
08
2016

RCH in EBN: Retirement Portability Should Be Employers' Next Big Focus

RCH CEO Spencer Williams shares the results of over 300,000 individual decisions made by participants over an eight-year period. The results confirm that portability services are desperately needed to address the cashout leakage problem.

Jul
21
2016

RCH in EBN: Embracing a new source of plan growth

In his July 21st article in Employee Benefit News, RCH President & CEO Spencer Williams highlights the Department of Labor's new fiduciary rule challenges and urges that it's time to consider another source of growth: portability solutions.

Jun
09
2016

RCH in EBN: Not all 401(k) plan leakage is the same

In his 6/9/16 article in Employee Benefit News, RCH CEO Spencer Williams reminds us that leakage is a big problem for the U.S. retirement system.

Feb
09
2016

Why Retirement Portability is Desperately Needed


In his 2/8/16 article in Employee Benefit News, RCH President & CEO Spencer Williams presents a compelling case for retirement savings portability.

Dec
01
2015

The unintended consequence of 401(k) auto-enrollment

Auto enrollment, codified in law by the Pension Protection Act of 2006, was drafted with the best of intentions to increase Americans' retirement savings but it has had the unintended consequence of impairing plan effectiveness. By proliferating small accounts in plans, auto enrollment has caused a decrease in average account balances throughout the U.S. retirement system. Adding to the urgency of this issue is the rising rate of auto enrollment adoption across defined contribution plans of all sizes, but particularly among larger plans.

Oct
09
2015

RCH in EBN: A Blueprint for Lifetime Participation in 401(k) Plans

Spencer Williams identifies portability as the solution plan sponsors should embrace.

Jul
22
2015

RCH in EBN: Safe Harbor IRAs Aren't Always Safe

RCH's Spencer Williams identifies fiduciary-friendly components of safe harbor IRAs that can help preserve retirement savings for former participants.

Jun
24
2015

RCH in EBN: How to Make Mandatory Distributions More Fiduciary Friendly

RCH's CEO Spencer Williams identifies four features that will deliver more-complete fiduciary protection for a mandatory distribution program, including auto portability.

May
25
2015

RCH in EBN: Enhance Auto Enrollment with Auto Portability

In his latest Employee Benefit News article, RCH's CEO Spencer Williams contends that Auto Portability is Auto Enrollment's natural complement, particularly in high-turnover industries.

Apr
14
2015

RCH in EBN: Auto-Portability Reduces Plan Fees by Increasing Plan Balances

RCH's CEO Spencer Williams continues to make the case for Auto-Portability, a new plan feature that recycles mandatory distributions, increases average balances and lowers plan costs.

Mar
17
2015

RCH in EBN: Why dump mandatory distributions in a landfill when you can recycle?


Williams advocates a new "recycling" approach for mandatory distributions from plan.

Employee Benefit Research Institute
Aug
09
2016

EBRI Releases New Research on 401(k) Leakage and Features Auto Portability Simulation

On 8/9/16, EBRI released new research focusing on the recurring issue of leakage from defined contribution savings plans. The August 2016 EBRI Notes summarizes policy forum discussions on the leakage issue, and include an extensive discussion of the RCH Auto Portability Simulation model that addresses outcomes of Auto Portability as workers change jobs.

May
01
2012

Initial Results of the EBRI 401(k) Project Model Indicate $1.3 trillion benefit possible

2012 EBRI research indicates that a 50% reduction in cashout leakage could result in an incremental $1.3 trillion in retirement savings, over 10 years.

ERISA Advisory Council / Department of Labor
Jun
17
2016

RCH and EBRI Present Consolidated Testimony on Auto Portability

RCH and EBRI teamed up to present consolidated testimony to the ERISA Advisory Council on Auto Portability, the automation of plan-to-plan transfers for small accounts, when participants change jobs.

The testimony was presented jointly by Tom Johnson, RCH's EVP and Head of Policy Development, and Craig Copeland, EBRI's Senior Research Associate. Johnson and Copeland not only addressed the basics of Auto Portability -- what it is, why it's needed and how it works -- but also covered the latest key research findings and EBRI data that are highly-supportive.

Forbes
Aug
28
2017

Forbes Article Cites RCH National Cashout Clock

In Forbes, John Wasick cites the RCH National Retirement Savings Cashout Clock's relentless advance, and provides readers with 4 ways to avoid a 401(k) cashout.

Jun
09
2017

Forbes Article Quotes RCH Job-Changing, Cashout Leakage Stats

Forbes' Ashlea Ebeling quotes RCH job-changing, cashout leakage statistics

May
13
2016

Forbes: How Millennials Are Sabotaging Their Retirement


Forbes' Ashlea Ebeling uses RCH's Auto Portability Simulation (APS) model to illustrate how Millennials are sabotaging their retirement.

Oct
02
2015

Forbes, Next Avenue Cover WISER's Forum on Auto Portability

Forbes and Next Avenue contributor Kerry Hannon covers WISER's 9-30 Forum "The Leading Edge - Auto Portability: A Solution to Prevent Cash Outs & Preserve 401(k) Assets."

ForexTV
May
08
2017

ForexTV: Are Traditional 401(k) Plans Ready for Retirement?

ForexTV's Timothy Kelly chronicles some of the woes experienced by 401(k) plan sponsors and suggests that Retirement Clearinghouse -- through portability -- can help solve the problems.

May
03
2017

RCH in ForexTV: Why Retirement Plan Auto Portability is Important to Every Plan Sponsor

ForexTV's Tim Kelly explores Auto Portability, and makes a strong case that it's important to every plan sponsor, due to America's mobile workforce and adverse outcomes at job change.

Institutional Investor
Jan
24
2017

Institutional Investor: Auto-Portability is the Next Step for 401(k) Innovation

In her article entitled "The Next Step for 401(k) Innovation: Auto-Portability" -- Institutional Investor's Frances Denmark highlights auto-portability and includes quotes from RCH's Spencer Williams and Northern Trust's Sabrina Bailey.

Jan
17
2017

Northern Trust's Sabrina Bailey says Auto Portability is "factor to aid 401(k) asset retention"

In a 1/17/17 article by Frances Denmark in Institutional Investor, Northern Trust's Sabrina Bailey, head of defined contribution at Northern Trust, cites auto-portability as "another factor that may aid 401(k) asset retention."

Investment News
Apr
30
2018

InvestmentNews: Pension plans take lead on finding missing participants

InvestmentNews examines how plan sponsors and service providers, rather than waiting on guidance from Washington, are taking the lead in advancing solutions to deal with the missing participant problem in America's defined contribution system. RCH CEO Spencer Williams and EVP Neal Ringquist are both quoted in the article, which also mentions recent research conducted by RCH, as well the promise offered by auto portability's "auto locate" mechanism.

Journal of Accountancy
Jan
08
2018

Could this simple proposal help boost retirement savings?

In his 1/8/18 article in the Journal of Accountancy, Lou Carlozo examines auto portability, which has the potential to "impact the retirement plans of millions for the better." Carlozo details the progress auto portability is making with the Department of Labor, referencing the July 2017 letter from Senate Republicans. Carlozo extensively quotes RCH President & CEO Spencer Williams, as well as other industry experts, on the positive outlook for auto portability and its potential for solving the 401(k) "leakage" problem.

LIMRA / Secure Retirement Institute
Apr
27
2017

Rely on the IRA Market for New Business? Then Support Auto-Portability

In LIMRA's Secure Retirement Review, RCH President & CEO Spencer Williams makes the case that Auto Portability incubates & preserves small-balance retirement savings. As such, it has the potential to grow the market for advisers whose business model relies on IRA rollovers.

Jan
18
2017

LIMRA Promotes Research Supporting Auto Portability

LIMRA's Secure Retirement Institute is promoting research that supports Auto Portability. LIMRA showcases the research in DConversations, including video from the 2016 Retirement Industry Conference, as well as multiple infographics providing important research.

Market Wrap with Moe
Nov
25
2017

Market Wrap with Moe Discusses 401k Auto Portability

Moe Ansari talks 401k auto portability with Kerry Pechter, publisher of the Retirement Income Journal.

MarketWatch
Nov
04
2016

RCH in MarketWatch: Rolling over retirement accounts now saves both time and money later

In his latest MarketWatch RetireMentors column, RCH CEO Spencer Williams modifies the familiar proverb “a stitch in time saves nine” for the benefit of 401(k) savers who have multiple retirement savings accounts.

Jun
03
2016

RCH in MarketWatch: Advice for the Class of 2016 - Strive for 25

In his 6/03/16 MarketWatch column, RCH CEO J. Spencer Williams gives the Class of 2016 advice they’re not likely to hear in a Commencement Speech:"Strive for 25"

Apr
08
2015

Alicia Munnell in MarketWatch: Supporting the RCH Goal of a Retirement Savings Clearinghouse

Alicia Munnell -- Boston College's Director, Center for Retirement Research -- comes down squarely in favor of a clearinghouse for the nation's 401(k) system.

Motley Fool
Dec
06
2017

The Motley Fool Features Retirement Clearinghouse Cash Out Research

In her 12/06/17 article "Here's Why Cashing Out a 401(k) Is the Worst Money Mistake You Might Ever Make", The Motley Fool's Maurie Backman cites RCH cash out research, mentioning that "nearly 6 million employees are expected to cash out their 401(k)s within eight years of leaving their employers, according to data compiled by Retirement Clearinghouse."

NAPA Net
Jun
25
2018

NAPA Net: RCH's Tom Johnson Addresses Leakage & Portability at WISER Forum

Covering the WISER forum "The Millennial Perspective: An Intergenerational Discussion on Retirement Savings", NAPA Net's Ted Godbout includes reporting on RCH EVP Tom Johnson, who wowed the WISER crowd with 401(k) cashout leakage and portability statistics. Citing data from the GAO, the EBRI Retirement Security Projection Model (RSPM) and other sources, Johnson made the point that Millennials, including gig workers, will stand to benefit greatly from retirement savings portability solutions, including auto portability.

May
25
2018

NAPA Net Covers Women's 401(k) Cashout Stats, Features RCH Research

NAPA Net's Ted Godbout covers the May 22nd WISER roundtable, where RCH EVP Tom Johnson revealed new statistics highlighting the cashout problem for women with small 401(k) balances. Godbout goes on to examine the "portability solution" -- where auto portability could preserve the savings of 1 million women, on an annual basis, and 42 million women over a generation.

May
17
2018

Helping Plan Sponsors Deal with the Missing Participant Problem

In his 5/17/18 article for NAPA Net, noted industry researcher Warren Cormier takes a deep dive into the problem of missing participants, summarizing the findings of a recent Retirement Clearinghouse (RCH) study that measured the magnitude of the problem, identified participant behaviors and uncovered important demographic trends. In search of solutions, Cormier turns to RCH CEO Spencer Williams, and their discussion focuses on "Auto Locate" as the most-promising financial technology to address the problem.

Mar
20
2018

NAPA Net: Can Automation Help Solve the Missing Participant Problem?

NAPA Net's Ted Godbout covers the recently-released survey of missing participants, joint research conducted by Boston Research Technologies and Retirement Clearinghouse. Godbout highlights the survey's key findings, quoting BRT's Warren Cormier, and drawing attention to the high percentage of respondents (60%) who expressed a preference for an automated solution to update their address and/or consolidate their retirement savings.

Dec
06
2017

NAPA Net's Ted Godbout Covers Boston Research Technologies White Paper on Auto Portability

In his 12/6/17 article in NAPA Net, Ted Godbout covers the recent Boston Research Technologies white paper “Making the Right Choice the Easiest Choice: Eliminating Friction and Leaks in America’s Defined Contribution System” -- which documents the key findings of the initial market launch of auto portability.


Jul
21
2017

NAPA VP Janine Stout Supports Auto Portability Before Congress

Testifying before a July 19 House Ways & Means Subcommittee on Tax Policy, NAPA Vice President Jania Stout offered her support for auto portability.

Jul
18
2017

NAPA Net: Senators to Urge DOL to Issue Guidance on Auto Portability

NAPA Net's Ted Gobbout reports that U.S. Sen. Tim Scott (R-S.C.) will deliver a letter to Labor Secretary Alexander Acosta, urging DOL guidance on auto portability.

Jun
26
2017

NAPA Net Covers 6/21 WISER Forum, Quotes Spencer Williams

NAPA Net's Ted Godbout attends the 6/21 WISER Forum on retirement issues, extensively quoting RCH President & CEO Spencer Williams.

Apr
04
2017

With Auto Portability, you can take it with you, says NAPA Net's Nevin Adams

Addressing the latest research conducted by EBRI on Auto Portability, and presented at the 3/30/17 FSR event in Washington, DC, NAPA Net's Nevin Adams discusses the benefits that Auto Portability can deliver in reducing 401(k) cashout leakage.

Dec
12
2016

ASPPA Net Headlines RCH Cashout Leakage Article

On 12/12/16, ASPPA Net staff included the 11/30/16 BenefitsPro article “Preventing retirement plan leakage: An infrastructure project that saves trillions” by RCH's Tom Hawkins in their website's news headlines, reiterating the major points in the article.

National Law Review
Jul
26
2016

RCH Portability in the National Law Review

In her 7/26/16 article in the National Law Review, Michelle Capezza addresses the fundamental changes in our workforce (the "Gig Economy") that are driving the need for portable benefits. Capezza states that RCH -- through promotion of Auto Portability -- is one of the ways that this new portability is becoming manifested in the Gig Economy.

NBCNews
Oct
17
2017

Wait, Where Did My 401(k) Account Go?

NBC News examines the need for a retirement clearinghouse; quotes RCH President & CEO Spencer Williams

Northern Trust
Sep
17
2016

Northern Trust Research Says Auto Portability is What's Next

In Northern Trust's research entitled "The Path Forward: Defined Contribution Plans Can Achieve More" Auto Portability is identified as one of two key DC plan features that will positively impact DC plan performance.

Paychex
Feb
15
2017

Is Auto-Portability the Next Big 401(k) Trend?

Paychex Retirement Services' 2/15/17 article provides an in-depth exploration of auto portability.

Pensions & Investments
Apr
30
2018

P&I features RCH in "Plans take lead to find the missing"

P&I's Meaghan KIlroy examines how plan sponsors and service providers, rather than waiting on guidance from Washington, are taking the lead in advancing solutions to deal with the missing participant problem in America's defined contribution system. RCH CEO Spencer Williams and EVP Neal Ringquist are both quoted in the article, which also mentions recent research conducted by RCH, as well the promise offered by auto portability's "auto locate" mechanism.

Apr
30
2018

P&I: Auto portability viewed as way to reduce number of missing participants

In an article featured on the cover of Pensions & Investments, P&I's Meaghan Kilroy interviews RCH executives Spencer Williams and Neal Ringquist on RCH's auto portability program, and its promise to address the issue of missing, terminated participants. Williams and Ringquist provide an update on auto portability, including the recent implementation with a mega plan sponsor, the pending DOL advisory opinion and participation by DC recordkeepers,

Aug
07
2017

Washington offers hope over retirement security

P&I's Hazel Bradford sees progress towards auto portability as a sign of hope that DC policymakers could act to shore up Americans' retirement security. Spencer Williams quoted.

Jan
13
2016

P&I: Obama Calls for More Retirement Savings Portability in Address

Pensions & Investments highlights President Obama's call for more retirement savings portability, in his final State of the Union address.

PLANADVISER
Mar
13
2018

PLANADVISER: Stranded Retirement Accounts Bigger Problem for Low Income, Millennials

PLANADVISER covers the 3/13/18 release of the joint Boston Research Technologies / Retirement Clearinghouse Missing Participant Survey, recapping the survey's key findings, and mentioning earlier research conducted by Retirement Clearinghouse on simulating the effects of auto portability.

Nov
08
2017

PLANADVISER: Results From Use of Auto Portability Product Released

Spencer Williams, from Retirement Clearinghouse, says the findings show the potential to preserve trillions of future retirement savings dollars for retirement plan participants through the widespread adoption of auto portability.

Oct
19
2017

PLANADVISER Compliance News Discusses Auto Portability Activities

In their Sept/Oct 2017 edition, PLANADVISER's Compliance News recounts activities aimed at moving Auto Portability forward, including Sen. Tim Scott's letter to DOL Secretary Acosta.

Apr
05
2017

PLANADVISER: EBRI Calls for Auto Plan Portability

PLANADVISER reports EBRI's latest research call for Auto Portability, stating that if workers could automatically roll their 401(k) plan over to a new employer, this could generate an additional $2 trillion in retirement savings.

Jan
25
2017

Recommendations to ERISA Advisory Council Include Auto Portability

PlanAdviser reports on the newly-published recommendations by the ERISA Advisory Council, which include facilitating Auto-Portability.

May
01
2014

PLANADVISER, RCH CEO Address Stranded Accounts

Interviewed by PLANADVISER, RCH CEO Spencer Williams addresses the growing problem of stranded accounts in America's defined contribution system.

PLANSPONSOR
Jun
07
2018

CRR Offers Retirement Policy Suggestions to the DOL

PLANSPONSOR’s Rebecca Moore examines the Center for Retirement Research’s (CRR) report “An Analysis of Retirement Models to Improve Portability and Coverage,” presented to the Department of Labor in February 2018. One of the report’s key recommendations includes the establishment of a clearinghouse to automatically move small balances forward, a framework now widely-known as auto portability.

Mar
13
2018

PLANSPONSOR: Insights on Retirement Plan Stranded Accounts

PLANSPONSOR's Rebecca Moore covers the 3/13/18 release of the joint Boston Research Technologies / Retirement Clearinghouse Missing Participant Survey, recapping the survey's key findings, and mentioning earlier research conducted by Retirement Clearinghouse in simulating the effects of auto portability.

Nov
08
2017

PLANSPONSOR: Retirement Clearinghouse Releases Findings From Auto Portability Use

Results from the firm’s product use by one plan sponsor found that upon consolidation, workers' median plan account balance increased by 46% and the combined future value of their preserved savings was more than $3 million at normal retirement age.

Jul
19
2017

Lawmakers Request Guidance for Auto-Portability of Retirement Savings

PLANSPONSOR's Rebecca Moore reports on the letter from US Senator Tim Scott, urging Labor Secretary Alexander Acosta to provide guidance on auto portability "as soon as possible."

Jun
26
2017

PLANSPONSOR "State of Recordkeeping" Article Addresses Auto Portability

PLANSPONSOR's Judy Hartnett interviews SPARK's Tim Rouse, gaining his perspective on Auto Portability as a means to prevent small accounts from "leaking out of the system."

Apr
05
2017

PLANSPONSOR: Auto Portability Can Boost Retirement Savings by $2 trillion

PLANSPONSOR covers the groundbreaking new EBRI Auto Portability projections, which indicate that full implementation of Auto Portability could generate an additional $2 trillion in retirement savings for Americans.

Jan
25
2017

ERISA Advisory Council Backs Auto-Portability Initiatives

PLANSPONSOR's Rebecca Moore reports that the ERISA Advisory Council has released its final recommendations on facilitating lifetime plan participation related to plan-to-plan transfers and account consolidation. RCH's Tom Johnson, EVP of Policy and Development is quoted.

Dec
16
2016

RCH in PLANSPONSOR: Guarding the Treasure

PLANSPONSOR's Rebecca Moore's article addresses defined contribution leakage, quoting RCH president and CEO Spencer Williams, as well as EBRI's Jack VanDerhei.

Oct
25
2016

RCH in PLANSPONSOR: Addressing the Most Serious DC Plan Leakage Problem

PLANSPONSOR's Rebecca Moore sits down with RCH's CEO & President, Spencer Williams, to address the most serious DC plan leakage problem.

Jun
14
2016

PLANSPONSOR Article Highlights Searching For An Appropriate IRA Provider, Quotes RCH CEO

Safe Harbor IRAs: Searching for an appropriate IRA provider By Judy Faust Hartnett of PLANSPONSOR

May
06
2016

PLANSPONSOR Article Features RCH's PSCA Session on Auto Portability


PLANSPONSOR's Rebecca Moore covers the highlights of RCH CEO J. Spencer Williams' May 3rd presentation at PSCA's 69th Annual Conference on Auto Portability, the industry solution to cutting cash out leakage in the sub-$5,000 balance segment.

Jan
27
2016

PLANSPONSOR Addresses President's Portability Initiatives; Quotes RCH CEO


A 1/27/16 article by PLANSPONSOR's Rebecca Moore addresses President Obama's portability initiatives, quoting RCH CEO J. Spencer Williams.

May
28
2015

PLANSPONSOR, PLANADVISER Address New RCH Research

PLANSPONSOR's Jill Cornfield reviews the latest research on America's Mobile Workforce from Retirement Clearinghouse and Boston Research Technologies.

May
28
2015

Portability and the Mobile Work Force Webcast Recap

In conjunction with Boston Research Technologies, Retirement Clearinghouse (RCH) announced the findings of a groundbreaking research study on America's mobile workforce, providing insights into participant behaviors regarding retirement savings portability. The study offers plan sponsors with strategies to stem cashouts and to improve retirement outcomes.

Apr
10
2015

PLANSPONSOR Asks: Is Auto-Portability the Next Big Innovation for 401(k) Plans?

PLANSPONSOR's Sara Kelly interviews RCH CEO Spencer Williams, exploring Auto-Portability.

Nov
26
2014

PLANSPONSOR Features RCH: Solving the Small Balance Issue for Millennials

Jill Cornfield of PLANSPONSOR chronicles the dilemma faced by the Millennial demographic, those aged 24 to 32.

Quicken Loans
Nov
21
2017

Changes Coming to Your 401(k) in 2018 – What Do They Mean for You?

Quicken Loans' Dan Rafter discusses upcoming changes to 401(k) plans in 2018 with Edward Dressel, including auto portability.

Retirement Income Journal
Jun
22
2018

Auto Portability Featured in "EBRI Super Model"

In his weekly Anecdotal Evidence column entitled "How Much Retooling Does the 401(k) Need?", Retirement Income Journal publisher Kerry Pechter covers two important weekly events -- the ERISA Advisory Council meeting and the EBRI webinar on their Retirement Security Projection Model (RSPM). For the EBRI event, Pechter notes that auto portability is a key public policy initiative in the "EBRI super model" and cites auto portability's benefits as reducing "retirement shortages for ages 35-39 by between 17% and 23%."

Jul
27
2017

The beginning of the end of "leakage"?

Retirement Income Journal's Kerry Pechter reports on the progress towards solving cash-out leakage, with auto-portability recently going live with a large recordkeeper and a mega plan sponsor. Pechter interviews RCH founder, president & CEO Spencer Williams.

Apr
06
2017

Influential Coalition Backs Auto-Portability: Retirement Income Journal

Two 4/6/17 articles by Retirement Income Journal address the growing & influential coalition backing auto-portability.

Jun
24
2016

Retirement Income Journal Gives Honorable Mention to RCH, Bipartisan Policy Center

In the 6/23/16 edition of Retirement Income Journal, RIJ's editorial staff give RCH, the Bipartisan Policy Center and Auto Portability an "Honorable Mention" for "technology (that) enables 401(k) accounts to follow their owners from plan to plan automatically."

May
19
2016

Retirement Income Journal Goes In-Depth Into Auto Portability with RCH Execs


Retirement Income Journal's Kerry Pechter goes in-depth into Auto Portability with RCH executives Spencer Williams and Tom Johnson.

Oct
03
2014

RCH Featured in Retirement Income Journal Article on Auto Portability

A 9/25/14 Retirement Income Journal features RCH, citing its leadership in bringing Auto Portability to the 401(k) industry, a solution that help could solve the industry's "leakage" problem.

Aug
08
2013

RCH CEO Addresses Benefits of Account Consolidation


Williams writes to the editor the Retirement Income Journal.

San Antonio Express-News
Jul
15
2016

RCH, Auto Portability Featured by San Antonio Express-News

In a July 15th article, the San Antonio Express-News features Retirement Clearinghouse and Auto Portability, RCH's solution to curb cashout leakage among small-balance job changers.

Society for Human Resource Management
Aug
17
2016

SHRM on Auto Portability, Quoting RCH's Spencer Williams

SHRM's Stephen Miller, CEBS, reports that there's a "new approach" to reducing leakage - Auto Portability., and goes in-depth, quoting RCH's president & CEO Spencer Williams from his presentation at EBRI's 78th Policy Forum.

Wall Street Journal
Jun
21
2018

RCH Featured in Wall Street Journal: Five Ways to Improve 401(k)s

As the 401(k) turns 40 years old, the Wall Street Journal’s Anne Tergesen examines five ways that the 401(k) could do a better job of creating retirement security, including reducing 401(k) leakage. To address the 401(k) leakage problem, Tergesen describes Retirement Clearinghouse’s ongoing efforts to implement auto portability, which automatically consolidates small balance accounts and moves retirement savings forward into a new employer’s 401(k) plan. Tergesen reports that RCH’s CEO Spencer Williams “expects to receive the green light” from the Department of Labor “as soon as this summer.”

Workforce Magazine
Feb
14
2018

Employees Cash Out 401(k)s in Record Numbers

In her 2/14/18 article, Workforce Magazine's Patty Kujawa examines the ongoing dilemma of 401(k) cashout leakage, quoting RCH's Spencer Williams as well as Keith Overly, Executive Director of the state of Ohio's defined contribution plan. Both agree that cashouts are a big problem and emphasize different aspects of its prevention, with Williams focusing on measures that make it easier to move retirement savings forward when participants change jobs.

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