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Retirement plan portability blog posts
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.
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.
Auto Portability Makes Everything Better
In his December 2017 Consolidation Corner blog post, Tom Hawkins writes about auto portability's special qualities. Great all by itself, auto portability also makes a lot of other retirement savings public policy initiatives a lot better.
The Best Blueprint for Improving Retirement Security
RCH President & CEO addresses a blueprint for improving retirement security, incorporating the widespread adoption of auto portability.
The Exit Bonus Employers Never Intended to Pay
Without seamless plan-to-plan portability in place to preserve retirement savings when a participant changes jobs, many employers are unwittingly paying “exit bonuses” to terminated employees that they may never have intended to pay.
Five Ways to Make Retirement Savings Portability a Priority in 2018
As the end of 2017 approaches, here are five actions that a plan sponsor could take to facilitate retirement savings portability and significantly improve their plans in 2018.
A Big Step Forward for Auto Portability
Auto portability is now live in America's defined contribution system, implemented by Retirement Clearinghouse and Conduent HR Services for the benefit of a mega plan sponsor's participants.
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