Public Policy

Universal Auto-Portability Can’t Come Soon Enough

Paul Mulholland, Content Writer and Reporter for the American Retirement Association (ARA), analyzes the state of plan-to-plan portability (or perhaps the lack thereof) in America's retirement plan system. Mulholland identifies the absence of universal automatic portability, or transferring balances between retirement plans upon changing jobs, as a primary obstacle to consistent retirement saving. Mulholland takes a deep dive into multiple dimensions of the issue, identifying abuses and frustrations that can occur with safe harbor IRA providers, and turns to RCH EVP and Chief Revenue Officer Neal Ringquist and Michael Kreps, a principal at the Groom Law Group, for their insights.

Commentary: Once-in-a-lifetime opportunity to close America’s wealth gap

Retirement Clearinghouse and Portability Services Network Chairman Robert L. Johnson, writing in Pensions & Investments, makes a compelling case for three public policy initiatives -- Auto Portability, the Saver’s Match and Trump Accounts -- that represent a chance "to reshape the trajectory of retirement savings -- and finally confront America’s stubborn wealth gap." Johnson recounts his personal journey, a timeframe which coincides with some key milestones, including the inception of America's 401(k) system, and a widening of the wealth gap. Johnson closes with a call to action, urging "public and and private sectors to seize this once-in-a-lifetime opportunity to give America’s chronically under-served and under-saved workers generational wealth."

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Regulatory Roundup: Auto Portability

In this video episode of Fidelity's Regulatory Roundup, show host Tre Hearn and guest Katie Hutchinson, VP, Defined Contribution Product Platforms, dive into Auto Portability -- the game-changing solution that helps workers by simplifying the rollover process of their retirement savings when switching jobs. Topics covered in the video include:

• 00:18 What happens when a worker changes jobs and doesn't rollover their retirement savings to their new employer?
• 01:03 Which workers does this affect most?
• 01:17 Does the SECURE 2.0 Act provide a solution for workers moving jobs?
• 01:42 The Portability Services Network and Auto Portability
• 03:00 How do employers benefit from joining the Portability Services Network?

DOL Reg Agenda Includes New ESG, Fiduciary Rules, SECURE 2.0 Guidance

Writing in NAPA Net, Content Writer & Reporter Paul Mulholland covers the publication by the Department of Labor (DOL) of their updated Spring 2025 regulatory agenda, with approximately 20 guidance projects under the Employee Benefits Security Administration (EBSA) that are either in the pre-, proposed, or final rule stage. Of those projects, Mulholland notes "[t]he agenda indicated that the DOL will finalize a rule on auto-portability by Jan. 2026. It did not indicate if it would build on the Biden administration’s proposal from Jan. 2024."

Also featured in ASPPA Net

The Triple Crown to Unlock Retirement Security for All

In his 8/15/25 Consolidation Corner blog post, RCH’s Tom Hawkins writes about the “Triple Crown” of retirement security – three retirement savings public policy initiatives that are “poised to finally close” the retirement savings wealth gap. Each of the three initiatives – Auto Portability, the Saver’s Match and Trump Accounts – all share common features, targeting small-balance savers, delivering enormous public policy benefits and are made both efficient and effective by incorporating proven financial technology. Issuing a call-to-action for plan providers and plan sponsors, Hawkins writes: “now is the time to act” adding “every year spent in ‘wait and see’ mode means millions miss out, and the retirement gap grows.”

Explaining fiduciary obligations for 401(k) consolidation

In his latest opinion piece in Employee Benefit News, RCH Founder, President & CEO Spencer Williams discusses the fiduciary obligations of auto portability, "the process powering 401(k) account consolidation" and seeks to assuage lingering fiduciary concerns associated with "proposed regulations....issued on January 29, 2024 by the U.S. Department of Labor (DOL)." Williams contends that the DOL's regulations do not override fiduciary responsibilities as set forth in the DOL's 2018 Advisory Opinion, or contained in "the regulatory framework for automated portability transactions already in the SECURE Act 2.0."

Learning lessons from the US long-term savings industry

Writing in Professional Pensions, Tom Ground, the UK-based CEO of Retirement Solutions at Standard Life, describes his "learning lessons" from a recent tour of the US retirement industry. Ground characterizes the US retirement industry as being "at least ten years ahead of [the UK}" and goes on to identify the key areas where the US has excelled. High on Ground's list is auto portability, where he writes: "the US has grasped the nettle and introduced ‘auto-portability' which enables small pots to move with you to your new employer in much the same way the pot follows member concept would have worked here. Feedback from those I spoke to suggested it was an effective...solution to the problem."

Upcoming Changes to 401(k) Plans That’ll Help Almost Everyone Save More

Writing in MSN Money, Sarah Sharkey highlights five key changes to 401(k) plans that promise greater retirement security for America workers. Enabled and/or extended by recent SECURE 2.0 legislation, Sharkey's changes include three "autos" -- auto enrollment, auto escalation and auto portability. Regarding auto portability, Sharkey notes that the new plan feature should exert a powerful effect on preserving retirement savings, writing: "eventually, [auto portability] should help millions of savers keep their nest eggs intact."

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