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Auto Portability blog posts
Regulators and Policy Advocates Focus on Retirement Savings Portability
The most important portability development on the horizon is the DOL’s auto portability Advisory Opinion, which will provide guidance for plan sponsors on the automatic roll-in of small account balances previously forced-out into safe harbor IRAs.
Auto Portability’s Role in Helping Women Save More for Retirement
Auto portability has become a leading retirement savings public policy initiative due to its proven ability to preserve small-balance defined contribution accounts. Now, research is indicating that, when it comes to women, auto portability could deliver even greater benefits by making it easier for women participants to preserve their 401(k) savings and help to put them on par with men to achieve financial wellness.
401(k) Consolidation: What Every Plan Sponsor Should Know
Plan sponsors intuitively know that a proliferation of small-balance 401(k) accounts can create problems. But few sponsors are clear on the factors that give rise to small accounts, and fewer still understand how they can utilize portability programs to solve the problem.
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.
DC Plan Sponsor Priorities Should Include Plugging Leakage, Enabling Auto Portability
As we continue to make our way through the second quarter of 2018, now is a good time to reflect on defined contribution (DC) plan sponsor priorities for this year.
Are you all-in on roll-in? Encourage new hires to rollover old 401(k) balances into your plan
Over the past six years, there has been a steady drumbeat pointing the way to increased portability and in-plan consolidation (roll-ins) as the next big strategic focus for 401k plans.
No Plan is an Island
Just as no man is an island, no
employer-sponsored retirement plan is an island. New hires who join a plan all
come from other companies, where they were likely enrolled in their
former-employer 401(k) plans. Similarly, participants who leave a plan when they
change employers have accrued 401(k) savings that they will likely want to take
with them.
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