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401k consolidation blog posts
A Plan Sponsor's Guide to Supporting Roll-ins
Plan sponsors are becoming more-and-more familiar with the concept of rollover contributions, otherwise known as roll-ins. Yet, few plan sponsors truly understand what it takes to implement an effective roll-in program that properly informs, encourages and supports plan participants in undertaking roll-in transactions. This video provides plan sponsors with a basic understanding of the elements required to properly establish and support a roll-in program.
Embracing A New Source of Plan Growth
In the wake of the Fiduciary Rule, providers of all stripes are broadly reevaluating their strategies for the participant and asset retention that is essential to growing their retirement plan businesses. Over the past two decades, providers have primarily looked to capture IRA rollovers as a means to grow retirement assets. The Department of Labor's new Fiduciary Rule creates challenges to that model. However, there is another, largely untapped, pool of assets within providers' reach that can fuel growth premature cash-outs. Auto portability, and portability solutions in general, represent a new and unique way to tap that potential source of growth.
Interesting Finding Emerges from the Auto Portability Simulation
When the Auto Portability Simulation (APS) model was recently unveiled at EBRI's 78th Policy Forum, a lot of attention was paid to the "marquee" numbers, and rightly so. I am referring here to the $154 billion reduction in cashout leakage, as well as the $115 billion increase in plan-to-plan roll-ins that occur under the adoption of Auto Portability.
What you won't hear in commencement addresses
In his May 9th article in MarketWatch's Retirement Mentors blog, RCH President & CEO Spencer Williams offers sage advice to college graduates as they enter the workforce: consolidate your retirement savings!
What the DOL's Fiduciary Rule doesn't say
The Department of Labor's much-anticipated Fiduciary Rule is ushering in many changes across the retirement services landscape, and the new rules governing the "what, how and why" for advice at the time of a participant's job change will undoubtedly transform the rollover-to-IRA market. However, a closer reading of the Fiduciary Rule sends a clear, if unstated, signal to plan sponsors, financial advisors and record-keepers' absent a compelling reason to roll over to an IRA, keep participants invested in a qualified defined contribution plan throughout their working lives.
For Earth Day: Consider How "Recycling" Could Apply to Our Retirement System
As we observe the 46th annual Earth Day this April 22nd, we appreciate the awareness that this event has brought to the need to protect our environment, the urgency that it is instilled in all of us, and the tangible results that have been achieved in so many important areas. Although we have much work to do, we have clearly come a long way since the "throwaway" culture that emerged following World War II.
Roll-In Services are a Slam Dunk for Sponsors & Participants
In his April 1st, 2016 article in MarketWatch, RCH's CEO Spencer Williams describes the sting that retirement savers feel -- not once, but twice -- when they choose to cash out their 401(k) savings.
Account consolidation time-consuming, expensive for employees
As has happened so many times before, the Baby Boomer generation is once again drawing attention to an unmet need: a seamless way to consolidate their collection of retirement accounts into a single account, which is a necessary step to creating a sturdy retirement plan. Much has been written about how sponsors can improve both their plans' overall health and their participants' retirement outcomes by embracing roll-ins; nonetheless, the account-consolidation process remains time-consuming and expensive for most participants.
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