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Auto Portability in the News
Browse the most comprehensive collection of articles in the media that feature auto portability.
Closely examining the year-by-year results, we noticed something odd; Does 401(k) auto-portability really pay off?
According to the recently released 2016 Willis Towers Watson U.S. Retirement Governance Survey, a major trend in retirement plan governance is the growing concern employers have for employees' retirement benefit adequacy and financial well-being.
On 8/9/16, EBRI released new research focusing on the recurring issue of leakage from defined contribution savings plans. The August 2016 EBRI Notes summarizes policy forum discussions on the leakage issue, and include an extensive discussion of the RCH Auto Portability Simulation model that addresses outcomes of Auto Portability as workers change jobs.
The problem is particularly acute for small-balance 401(k) accounts; Leakage can make a 401(k) go splat.
What happens when participants change jobs? The next big 401(k) issue to hit Washington lawmakers could be auto-portability.
In the first half of 2016, not only has the retirement industry awakened to the problem of cashout leakage, but it's begun to acknowledge its root cause: a lack of retirement savings portability. At the same time, Auto Portability has emerged as the only viable solution to cashout leakage, delivering portability for the small-balance (less than $5,000) job-changer, automatically moving their balances forward when they change jobs and enroll in a new plan. Let's look-back at the first half of 2016 and see how Auto Portability may now be poised to become an "overnight success" in the not-too-distant future.
In her 7/26/16 article in the National Law Review, Michelle Capezza addresses the fundamental changes in our workforce (the "Gig Economy") that are driving the need for portable benefits. Capezza states that RCH -- through promotion of Auto Portability -- is one of the ways that this new portability is becoming manifested in the Gig Economy.
In his July 21st article in Employee Benefit News, RCH President & CEO Spencer Williams highlights the Department of Labor's new fiduciary rule challenges and urges that it's time to consider another source of growth: portability solutions.