Auto Portability - Public Policy
Learn more about retirement savings public policy positions related to Auto Portability.
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.
What happens when participants change jobs? The next big 401(k) issue to hit Washington lawmakers could be 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.
Retirement Clearinghouse, LLC welcomes the report issued by the Bipartisan Policy Center’s Commission on Retirement Security and Personal Savings which, among other proposals, recommends the adoption of processes that enable the seamless transfer of retirement savings between defined contribution plans when participants change jobs.
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.
Retirement Clearinghouse, LLC will introduce a first-of-its-kind discrete event simulation at the 78th annual Employee Benefit Research Institute (EBRI) Policy Forum on May 12, 2016.
A February 2016 DCIIA Research Brief points to leakage as undermining retirement savings, citing the RCH / Boston Research Technologies Mobile Workforce Study.
A 1/27/16 article by PLANSPONSOR's Rebecca Moore addresses President Obama's portability initiatives, quoting RCH CEO J. Spencer Williams.