Consolidation Corner Blog

Consolidation Corner is the Retirement Clearinghouse (RCH) blog, and features the latest articles and bylines from our executives, addressing important retirement savings portability topics.


Sep
21
2015

Deadlines for Year-End Plan Terminations, Mandatory Distributions Fast Approaching

At Retirement Clearinghouse (RCH), the 4th quarter is the busiest time of the year, as many plan sponsors look to complete plan terminations and mandatory distributions before the end of the year. However, to follow appropriate communication timeframes, deadlines to initiate the necessary communications process needed to complete these year-end plan initiatives are fast approaching.

Sep
15
2015

Think Twice Before Consolidating Your 401(k) Accounts on Your Own!

RCH's Spencer Pringle describes a traumatic event from his childhood and relates that experience to the (sometimes) difficult process of consolidating retirement savings on your own.

Sep
02
2015

One Solution to Three Costly Retirement-Saving Mistakes

In his September 2nd, 2015 MarketWatch article One Solution to Three Costly Retirement-Saving Mistakes, RCH's CEO Spencer Williams provides insight as to why a majority of Americans are not very confident in their retirement readiness. Three costly mistakes consistently plague retirement savers: 1) leaving 401(k) accounts behind when changing jobs, 2) prematurely cashing out and 3) not informing prior employers' retirement plan record-keepers about address changes.

Aug
19
2015

Reducing the Burden of Missing Participants

Whenever I am meeting with a plan sponsor, TPA or recordkeeper for the first time, I ask about returned mail related to missing participants; and almost every time I get "the look" - The look and/or eye roll that instantly says that returned mail is definitely a problem. The entire retirement industry is all-too-familiar with returned mail related to missing participants. In addition to the money wasted on materials and mailing costs, missing participants create administrative burdens and increase the plan's fiduciary liability risk. So, what is a fiduciary to do?

Aug
19
2015

What To Look For In A Roll-In Service Provider

Warren Cormier, CEO of Boston Research Technologies, recently published a research study that revealed that a large majority of plan participants are receptive to consolidating their retirement savings accounts in their current plans.

Aug
11
2015

Automatically Moving Mandatory Distributions Forward

The mandatory distribution-to-Safe Harbor IRA plan feature as commonly utilized today was conceived in 2001 and launched in 2005 with good intentions, and for valid reasons. A mobile workforce, combined with a lack of retirement savings portability, had created a burgeoning problem for plan sponsors.

Aug
04
2015

What Participants' Distribution Decisions Are Telling Us

That's changing, as Neal Ringquist explains.

Jul
30
2015

Leaving Your 401(k) Savings Behind Will Cost You!

In his July 30th, 2015 MarketWatch article titled, Leaving Your 401K Behind When Changing Jobs Will Cost You, RCH's CEO Spencer Williams gives sage advice to America's mobile workforce, urging job-changing retirement savers to take the initiative and to consolidate their retirement savings.

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