The Retirement Clearinghouse (RCH) Mission
Our mission is to dramatically improve the odds that millions of America’s job-changing participants will preserve their retirement savings and enjoy a comfortable and timely retirement.
To achieve our mission, we leverage innovative financial technology to greatly simplify and streamline the process of consolidating retirement savings accounts within America’s defined contribution system.
Retirement Savings Portability
Drawing upon our extensive experience and an impressive body of empirical research, we know that providing qualified plan participants with an easy choice to move their retirement savings forward drastically reduces cash out leakage, currently estimated at over $90 billion per year.
At the same time, we know that retirement savings portability delivers significant benefits to plan sponsors and their service providers by preserving and retaining retirement assets in the defined contribution system, solving the small account problem.
Widespread Adoption of Auto Portability
Central to achieving our mission is the widespread adoption of auto portability
Auto portability is the routine, standardized, and automated movement of a retirement plan participant’s 401(k) savings from their former employer’s plan to an active account in their current employer’s plan.
Auto portability was conceived and developed by RCH to meet the needs of participants with small account balances and subject to mandatory distributions, or automatic rollovers. Auto portability utilizes proprietary technology and is designed to work within the existing platforms and data flows of the nation’s qualified plan system through the industry-led Portability Services Network
The potential benefits of auto portability are staggering. The Employee Benefit Research Institute (EBRI) has estimated that full implementation of auto portability could generate an additional $2 trillion in retirement savings.
A Proud Member of the RLJ Companies
Retirement Clearinghouse, LLC is a proud member of the RLJ Companies, an innovative business network founded by Robert L. Johnson, that provides strategic investments in a diverse portfolio of companies.