Media Coverage

Retirement Income Journal Gives Honorable Mention to RCH, Bipartisan Policy Center

In the 6/23/16 edition of Retirement Income Journal, RIJ's editorial staff give RCH, the Bipartisan Policy Center and Auto Portability an "Honorable Mention" for "technology (that) enables 401(k) accounts to follow their owners from plan to plan automatically."

Calls for Portability Solutions to Curb Cash Out Leakage Growing Louder

Cash out leakage, the premature withdrawal of retirement savings for non-retirement expenses, is a persistent problem in the retirement industry, and growing more pervasive as employee mobility increases.

RCH and EBRI Present Consolidated Testimony on Auto Portability

RCH and EBRI teamed up to present consolidated testimony to the ERISA Advisory Council on Auto Portability, the automation of plan-to-plan transfers for small accounts, when participants change jobs.

The testimony was presented jointly by Tom Johnson, RCH's EVP and Head of Policy Development, and Craig Copeland, EBRI's Senior Research Associate. Johnson and Copeland not only addressed the basics of Auto Portability -- what it is, why it's needed and how it works -- but also covered the latest key research findings and EBRI data that are highly-supportive.

Interesting Finding Emerges from the Auto Portability Simulation

When the Auto Portability Simulation (APS) model was recently unveiled at EBRI's 78th Policy Forum, a lot of attention was paid to the "marquee" numbers, and rightly so. I am referring here to the $154 billion reduction in cashout leakage, as well as the $115 billion increase in plan-to-plan roll-ins that occur under the adoption of Auto Portability.

PLANSPONSOR Article Highlights Searching For An Appropriate IRA Provider, Quotes RCH CEO

Safe Harbor IRAs: Searching for an appropriate IRA provider By Judy Faust Hartnett of PLANSPONSOR

RCH in EBN: Not all 401(k) plan leakage is the same

In his 6/9/16 article in Employee Benefit News, RCH CEO Spencer Williams reminds us that leakage is a big problem for the U.S. retirement system.

Fast & Slow Leakage Produce a Flood of Outflows

First, let's review the definition of "leakage." If we think of total 401(k) savings as a bucket of water, "leakage" refers to those retirement savings that, like water in a leaky bucket, are withdrawn from the U.S. retirement system every year. There are three holes in the bucket: cash-outs at the point of job change, hardship withdrawals, and loan defaults. According to the U.S. Government Accountability Office, one of these holes is much bigger than the other two combined nearly 89% of all leakage is attributed to cash-outs that occur when a participant changes jobs. Hardship withdrawals and loan defaults together account for the remaining 11%.

Advice college graduates won't hear at commencement: "Strive for 25"

As they set out into the working world, RCH President & CEO Spencer Williams counsels the Class of 2016 on the importance of developing good saving habits from the very beginning. Using the phrase "Strive for 25" Williams notes that the $25,000 retirement savings threshold is a critical milestone that all graduates should target.