EBRI's Research Establishes Auto Portability as a Leading Public Policy Initiative

Auto Portability - Public Policy

Learn more about retirement savings public policy positions related to Auto Portability.


Dec
15
2021

The Great Resignation Doesn’t Have to Derail 401(k) Savers

Writing in the print edition of 401k Specialist Magazine, Managing Editor Brian Anderson examines the growing concern over the phenomenon known as the 'Great Resignation' and its highly negative, potential impact on the retirement security of millions of job-changing Americans. After examining the problem, Anderson identifies auto portability as the 'antidote' to the Great Resignation -- quoting a prior piece by RCH's Tom Hawkins that stated: "No other program or public policy option even comes close, including the proposed establishment of a retirement savings 'lost and found.'"

Dec
13
2021

Kennedy Townsend: Solving Portability and Cashout Leakage are a Key DOL Priority

On 12/6/21, Kathleen Kennedy Townsend, Special Assistant to the Secretary of Labor for Retirement, served as the keynote speaker at EBRI's 90th Public Policy Forum, and outlined the big-picture, retirement-focused priorities of the DOL. One of the DOL's three priorities is the issue of portability and leakage. RCH's Tom Hawkins examines Townsend's remarks to her EBRI audience, which revealed that she has a clear grasp of the magnitude of the cashout leakage problem, as well as its most-promising solution – enabling plan-to-plan portability.

Dec
07
2021

Townsend Outlines DOL’s Retirement Priorities

NAPA Net's Ted Godbout covers EBRI's Winter Policy Forum, where Kathleen Kennedy Townsend, Special Assistant to the Secretary of Labor for Retirement, served as a keynote speaker and outlined the big-picture, retirement-focused priorities of the DOL. One of the DOL's three priorities is the issue of portability and leakage. Townsend, writes Godbout, cited leakage statistics and noted that the problem disproportionately affects those with balances below $5,000, and had communicated with many who "had not transferred their retirement accounts because it’s so frustrating."

Dec
01
2021

Tax credits would help narrow wealth disparities and bolster retirement savings

Writing in Employee Benefit News, RCH President & CEO Spencer Williams examines pending retirement savings legislation, and focuses upon the benefits of a refundable saver's credit, which would be directly deposited into taxpayers' 401(k) and IRA accounts. Taking his analysis a step further, Williams considers the infrastructure required to transfer these funds to savers, and identifies considerable synergies with the existing technology that supports auto portability.

Also featured on Financial-Planning.com

Nov
19
2021

4 Reasons Why 401k Auto Portability Can’t Wait

Writing in 401k Specialist Magazine, RCH's Tom Hawkins makes the case that auto portability can wait no longer and cites four key reasons that the new "automatic" feature should be adopted. Hawkins' key reasons include: 1) cashout leakage isn't waiting, 2) the "Great Resignation" is accelerating, 3) policy initiatives that expand access to workplace retirement plans require auto portability to realize their intended benefits, and 4) auto portability is here, now and working.

Previously featured in Consolidation Corner

Nov
15
2021

Graff’s Path: The ARA CEO on Bipartisanship, the Coverage Gap and What’s Next for the Organization

To mark the 25th anniversary of his tenure, Brian Graff, CEO of the prestigious American Retirement Association (ARA) sat down with 401k Specialist Editor-in-Chief John Sullivan to discuss a range of topics, including the organization's history of effectively influencing retirement legislation. During the interview, the pair turned to the important topic of addressing 401(k) cashout leakage, where Graff voiced his clear view that auto portability represents the best approach to solving the problem. A direct link to the specific portion of the interview that addresses auto portability is here.

Nov
02
2021

EDITORIAL: Scott plan can help retirees, fill positions

An editorial piece in the Times and Democrat (Orangeburg, SC) opines on the plan recently announced by U.S. Senator Tim Scott (R-SC), to address gaps in the retirement savings system. Scott, who himself has 25 years of professional experience in the insurance and financial services industry, sets forth a series of proposals in his report, which include "codifying auto-portability regulations to prevent leakage." The piece quotes Scott as saying he looks forward "to discussing the reforms and more so we can ensure that all Americans have the tools necessary to retire with dignity and independence during their golden years.”

Nov
01
2021

401k Cashout Leakage, Auto Portability Featured in Senate Committee Hearing

Writing in 401k Specialist Magazine, RCH's EVP of Public Policy Renee Wilder Guerin breaks down the 10/28/21 hearing held by the Senate Special Committee on Aging -- A Financially Secure Future: Building a Stronger Retirement System for All Americans -- and found it to be highly-focused on solving the problems of cashout leakage, as well as advancing its most promising solution, auto portability. Re-capping key testimony and Q&A from the hearing (including excerpted video), Wilder Guerin concludes that lawmakers are more focused than ever on solving retirement savings problems for under-served and under-saved demographic segments.

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EBRI's Research Establishes Auto Portability as a Leading Public Policy Initiative