Auto Portability - Recent Developments

Find the most-recent auto portability media coverage and developments.


Apr
23
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.

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.

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
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.

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.

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.

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."

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.

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