Auto Portability in the News
Browse the most comprehensive collection of articles in the media that feature auto portability.
RCH Featured in Wall Street Journal: Five Ways to Improve 401(k)s
As the 401(k) turns 40 years old, the Wall Street Journal’s
Anne Tergesen examines five ways that the 401(k) could do a better job of
creating retirement security, including reducing 401(k) leakage. To
address the 401(k) leakage problem, Tergesen describes Retirement
Clearinghouse’s ongoing efforts to implement auto portability, which
automatically consolidates small balance accounts and moves retirement savings
forward into a new employer’s 401(k) plan. Tergesen reports that RCH’s
CEO Spencer Williams “expects to receive the green light” from the Department
of Labor “as soon as this summer.”
CRR Offers Retirement Policy Suggestions to the DOL
PLANSPONSOR’s Rebecca Moore examines the Center for Retirement Research’s (CRR) report “An Analysis of Retirement Models to Improve Portability and Coverage,” presented to the Department of Labor in February 2018. One of the report’s key recommendations includes the establishment of a clearinghouse to automatically move small balances forward, a framework now widely-known as auto portability.
RCH in BenefitsPro: 401(k) consolidation: What every plan sponsor should know
Plan sponsors know that an explosion of small-balance 401(k) accounts held by terminated participants can create problems, but few sponsors are clear on the underlying causes, and fewer still understand how they can utilize consolidation programs to solve the problem. In his 6/6/18 article in BenefitsPRO, RCH’s Tom Hawkins offers plan sponsors a framework to understand and address the small account problem, applying proven solutions that promote account consolidation.
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.
NAPA Net Covers Women's 401(k) Cashout Stats, Features RCH Research
NAPA Net's Ted Godbout covers the May 22nd WISER roundtable, where RCH EVP Tom Johnson revealed new statistics highlighting the cashout problem for women with small 401(k) balances. Godbout goes on to examine the "portability solution" -- where auto portability could preserve the savings of 1 million women, on an annual basis, and 42 million women over a generation.
401k Specialist: Understanding (And Solving) The Problem Of Women’s 401k ‘Leakage’
At a May 22nd, 2018 Women's Institute for a Secure Retirement (WISER) roundtable, 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.
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.
RCH in EBN: 401(k) account consolidation: The key to reducing lost participants
In his latest article in Employee Benefit News, RCH’s President & CEO Spencer Williams takes on the predicament of missing participants, making the case that widespread adoption of auto portability is the most effective solution to the problem. Supporting his views with foundational research, Williams points to auto portability’s twin benefits of locating current addresses and consolidating small, stranded accounts as outcomes that collectively satisfy plan sponsors' fiduciary responsibilities, create financial wellness for participants and preserve $1.5 trillion in retirement savings over a generation.
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