Auto Portability - Recent Developments

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


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%."

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.”

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.

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.

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
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.

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.

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.

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