Media Coverage

Auto Portability Updates: What Plan Sponsors Should Know

A PNC Bank Insights article provides their corporate client base with a succinct and positive overview of auto portability, as delivered by the Portability Services Network (PSN), with technology provided by Retirement Clearinghouse (RCH). The PNC piece addresses key facts that plan sponsors should know, and lays out a list of key auto portability benefits.

Automated features in workplace retirement plans can close savings shortfalls

Pensions & Investments reporter Margarida Correia recaps the latest retirement research from EBRI, which examines the impact of key "automatic" features utilized in defined contribution retirement savings plans. Correia notes that the EBRI report indicated the combination of "automatic enrollment, automatic escalation and automatic portability -- the retirement saving shortfall would close by 16%."

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Three Steps to Getting Off the Uncashed Distribution Check Treadmill

If you’re a defined contribution plan sponsor struggling with uncashed distribution checks, it can feel you’re on a never-ending treadmill. However, there are effective strategies that can greatly reduce the time, cost and risks associated with uncashed checks. Writing in the RCH Consolidation Corner blog, Tom Hawkins outlines three key steps to getting off the treadmill, including 1) a proactive program of locating missing participants, 2) eliminating the automatic cashout of sub-$1,000 balances and 2) utilizing safe harbor IRAs to resolve stale-dated checks.

RCH Consolidation Corner Channel Ep. 4 - The Migratory Patterns of Defined Contribution System Job-Changers

Welcome to another edition of the RCH Consolidation Corner Channel, where we provide you with audio content that explores key issues in the preservation and consolidation of retirement savings. In Episode 4, we’ll be examining a very interesting and unique issue – the migratory patterns of defined contribution system job-changers. We hope you’ll find the audio enjoyable and informative.

EBRI Analysis Tool Highlights Impacts of Automatic Enrollment

Amanda Umpierrez, writing for 401k Specialist, covers the release of EBRI Issue Brief 630, which examined the impact of automatic features in retirement plans by using its Retirement Security Projection Model (RSPM). Umpierrez notes that the analysis looked at several automatic features -- including automatic enrollment, automatic escalation and automatic portability. She writes that automatic portability "can significantly lower shortfalls for participants" and that "pans who adopt auto-portability features could see a reduction in the retirement saving shortfall by over 11% for those ages 35 to 39."

RCH Consolidation Corner Channel Ep. 3 - Auto Portability and the $10,000 Hurdle

Welcome to another edition of the RCH Consolidation Corner Channel, where we provide you with audio content that explores key issues in the preservation and consolidation of retirement savings. Today, we’ll be examining how Auto Portability – as delivered by the Portability Services Network – works to both preserve AND to aggregate small-balance retirement savings, helping participants pass over the important $10,000 hurdle. We hope you’ll find the audio enjoyable and informative.

RCH Consolidation Corner Channel Ep. 2 - How Auto Portability Benefits Women

Welcome to the RCH Consolidation Corner Channel, where we provide you with audio content that explores key issues in the preservation and consolidation of retirement savings in America’s defined contribution system. Today, we’ll be examining the substantial benefits that women can derive from auto portability. We hope you’ll find the audio enjoyable and informative.

How 401(k) Plans Benefit From Auto Portability

Angela Capek is product area leader of defined contribution (DC) product platforms at Fidelity Investments, and has worked for Fidelity for 28 years in various roles focusing on product development and deployment for DC retirement plans, for which Fidelity serves as recordkeeper. Capek recently sat down with Russ Alan Prince of Financial Advisor Magazine to discuss how the auto portability solution has helped employer-sponsored DC plans make it easier for their participants to consolidate their 401(k) savings and keep their savings invested in the U.S. retirement system as they change jobs.