Auto Portability - Recent Developments

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


Feb
26
2020

SECURE Act Will Reduce Retirement Deficits By $115 Billion, EBRI Says

Financial Advisor Magazine's Tracey Longo covers EBRI's 2/20/20 Issue Brief that projects the benefits of the SECURE Act legislation, noting that the SECURE Act, by itself, could cut the nation's Retirement Savings Shortfall (RSS) by 3%, or $115 billion. While this is good news, even better news is that the SECURE Act -- when paired with auto portability -- would generate a whopping 10%, or $383 billion reduction in the RSS, of which $268 billion is directly attributable to auto portability.

Feb
24
2020

NAPA Net: SECURE Act Benefits Surge, When Paired With Auto Portability

NAPA Net reporter Ted Godbout covers the release of EBRI's Issue Brief #501, released 2/20/20, which projects the benefits of the newly-enacted SECURE Act legislation. EBRI's analysis finds that key provisions of the SECURE Act are projected to deliver a respectable 3%, or $115 billion reduction in the Retirement Savings Shortfall (RSS), a key metric of retirement savings adequacy. However, when the SECURE Act is paired with auto portability, Godbout notes that the RSS reduction surges to 10%, or $383 billion.

Feb
24
2020

New Research Confirms Clear Shift Towards Plan-to-Plan Portability

In his latest article in RCH's Consolidation Corner, RCH's Neal Ringquist observes that 401(k) plans have become more-and-more “institutionalized" -- yet the benefits of that increased institutionalization are being lost to large numbers of participants who cash out their 401(k) balances when they change jobs. Now, there’s clear evidence that plan sponsors understand the value of plan-to-plan portability in preserving 401(k) plans’ institutional benefits, and that a shift towards already-available portability solutions is underway.
Feb
21
2020

SECURE Act could reduce retirement savings shortfall — EBRI

P&I's Brian Croce examines EBRI's new Issue Brief, which models the impact of key provisions of the SECURE Act. Croce notes that EBRI's projection of the legislation's baseline benefits produces an overall reduction in the Retirement Savings Shortfall (RSS) of 3%, or $115 billion, while the addition of auto portability dramatically increases those benefits to yield a 10%, or $383 billion reduction in the RSS measure.

Feb
21
2020

EBRI: Auto Portability Adds More Retirement Security to the SECURE Act

A new Issue Brief released by the Employee Benefit Research Institute (EBRI) examines the impact of the SECURE Act's most important provisions on Americans' retirement security. The EBRI brief projects that the SECURE Act will reduce the nation's $3.81 trillion Retirement Savings Shortfall (RSS) by 3%, or $115 billion. However, when combined with auto portability, the RSS is reduced by 10%, or $383 billion -- a massive, incremental benefit.

Feb
20
2020

Video: Is Auto Portability the Next 401(k) ‘ESG’ Initiative?

The 401(k) cashout leakage crisis has significant, negative societal consequences -- impacting all Americans, but affecting minorities, women and lower-income segments the most. 401(k) plan sponsors, already familiar with Environmental, Social & Governance (ESG) initiatives, could finally be waking up and taking action to solve the cashout leakage problem, within the framework of corporate social responsibility. Plan-to-plan portability -- specifically auto portability -- is the most promising solution, and could become the next 401(k) ESG initiative.

Feb
12
2020

401kSpecialist: Socially Conscious Corporations Will Solve 401k Cashout Leakage

Writing in 401kSpecialist, RCH's Tom Hawkins predicts that socially conscious private-sector corporations will soon address the nation's 401(k) cashout leakage crisis by adopting plan-to-plan portability, including auto portability. Driving Hawkins' conclusions are three key developments: 1) a growing understanding of the problem and its societal impacts, 2) access to viable portability solutions and 3) corporate acceptance of the responsibility to act for the benefit of society. Hawkins further notes that this view is now being echoed in retirement research & public policy circles.

Feb
10
2020

How Socially Responsible Corporations Will Solve the 401(k) Cashout Crisis

Writing in Medium, RCH's Tom Hawkins makes the case that socially conscious private-sector corporations will soon solve the nation's 401(k) cashout leakage crisis by fully-embracing plan-to-plan portability, including auto portability. Three key developments drive Hawkins' conclusions, including 1) a growing understanding of the problem and its societal impacts, 2) access to a viable solution and 3) clear acknowledgment of a responsibility to act for the benefit of society. Hawkins further notes that this view is being echoed in retirement research & public policy circles.

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