By Neal Ringquist | December 3, 2024

CHARLOTTE, NC—December 3, 2024—Portability Services Network (PSN) announces that, in its first year of operation, more than 15,000 plans representing approximately 5 million participants have signed up for auto portability. Robert L. Johnson, Chairman of the Portability Services Network and Retirement Clearinghouse, said, “I heartily applaud the six recordkeepers that launched Portability Services Network for their unwavering commitment to improving the retirement welfare of America’s under-saved and under-served workers. Auto portability was conceived as an innovation to benefit minority and women savers, and it is immensely gratifying to witness its coming to fruition through the hard work of Alight, Vanguard, Fidelity Investments, Empower, TIAA, and Principal® to make auto portability a reality. We encourage more plan sponsors and recordkeepers to join and do their part to assist low-income workers in achieving a financially secure retirement."

Read the entire press release here.

For more information on the Portability Services Network (PSN), visit https://psn1.com, email sales@psn1.com or visit the links below:

To download a comprehensive auto portability infographic, visit this link.

Portability Solutions offered by Retirement Clearinghouse:

Visit the RCH1.com website for more information on all Retirement Clearinghouse Portability Solutions.

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