401k consolidation blog posts


Feb
22
2019

How Auto Portability Serves Participants’ Best Interests - Part 1: Dramatically Improved Participant Outcomes

Plan sponsors considering the adoption of auto portability must determine that, by participating in the auto portability program, they are acting prudently and solely in the interests of their plan’s participants and beneficiaries. In this series, RCH's Tom Hawkins identifies five key reasons why an auto portability program serves the best interests of plan participants. Part 1 of the series examines the dramatically improved participant outcomes that will result from a program of auto portability.

Jan
29
2019

Want to Help Minority Participants Save More for Retirement? Adopt Auto Portability

In his latest article in Consolidation Corner, RCH President & CEO Spencer Williams acknowledges the

headwinds facing minorities in saving more for their retirement, including significantly higher rates of job turnover and cash-out leakage. Building on statements by RCH Chairman Robert L. Johnson at a December 2018 White House event, Williams makes the case that – for minority savers – auto portability could preserve up to $1.4 trillion in retirement savings, over a generation. Williams concludes that auto portability represents the “best, and easiest, way for sponsors and their service providers” to address the problem.

Jan
22
2019

Sidecar Accounts Can Plug Some 401(k) Leakage—But Not Most Leakage

In his latest article in Consolidation Corner, RCH President & CEO Spencer Williams examines the impact of "sidecar" accounts, which he views as a positive trend and a feature that could serve as a useful tool in the struggle to curtail leakage of savings from defined contribution plans. Williams also contends auto portability will be essential to plugging the biggest hole in the retirement system’s "bucket" -- cashout leakage -- which represents 89% of the overall leakage problem.

Dec
20
2018

2018: A Great Year for Retirement Clearinghouse

As we pause at the end of 2018 to count our blessing and to celebrate the Holidays, we at Retirement Clearinghouse (RCH) find ourselves grateful for a very successful year.

Nov
28
2018

What is Auto Portability? It Depends on Who’s Asking.

With the announcement of the Department of Labor’s recent actions, auto portability has taken center stage in the retirement industry. While auto portability has been well-known to a relatively small group of industry insiders, its recent, widespread coverage in the media has many asking the question “what is auto portability?” In this article, RCH Senior Vice President Tom Hawkins suggests that the best answer may depend on who's asking the question, but one thing's clear: auto portability is an idea whose time has come.

Nov
26
2018

Auto Portability is Like Bacon—It Makes Everything Better

In his monthly column in Consolidation Corner, RCH President & CEO Spencer Williams explains to readers why auto portability is like bacon -- by making everything better for all parties in America’s retirement system.

Sep
27
2018

Pairing 401(k) Savings Preservation and Expanded Access for America’s Minorities

In this article, RCH's Spencer Williams and Tom Hawkins address an important retirement public policy question: How would a pairing of auto portability with open multiple employer plans (or “open MEPs”) impact the retirement savings of America’s minorities, and particularly, African-Americans?

Sep
07
2018

Three Unique 401(k) "Hacks" for National 401(k) Day

In observance of National 401(k) Day, RCH's Tom Hawkins examines three unique 401(k) "hacks" that can save participants time & money, while putting them more squarely on the path to financial wellness.

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