Auto Portability in the News
Browse the most comprehensive collection of articles in the media that feature auto portability.
P&I: Obama Calls for More Retirement Savings Portability in Address
Pensions & Investments highlights President Obama's call for more retirement savings portability, in his final State of the Union address.
Washington Recognizes Need for Retirement Plan Portability Solutions
Clearly, Washington DC is now "getting it" when it comes to retirement plan portability. In November 2015, Senator Patty Murray and other influential members of Congress delivered a letter to Department of Labor Secretary Perez urging action on Auto Portability. Now, we have strong comments from President Obama in his final State Of The Union address on the need for more portable retirement savings.
Auto Enrollment: The Unintended Consequences, Part II (Research)
In his December 1, 2015 article (The unintended consequence of 401(k) auto-enrollment), RCH CEO Spencer Williams exposes the linkage between auto enrollment and lower average account balances. Based on Form 5500 data, Williams' analysis presents some excellent examples of industries where average balances are significantly lower in plans that have adopted auto enrollment compared to plans that have not. RCH's Tom Hawkins follows up that article with his own analysis, extending Williams' earlier work.
401kSpecialist Highlights Auto Portability, RCH
John Sullivan highlights the rise of Auto Portability as an emerging solution to address the problem of leakage.
As 401(k) Cash Out Leakage Grows, So Does Need for Auto Portability
In his December 11th article in BenefitsPro (Addressing the Critical Problem of 401(k) Cash Outs), Nick Thornton draws much-needed attention to the magnitude of the 401(k) cash out leakage issue, due to the frictions associated with account portability when plan participants switch jobs. Thornton's article rightly emphasizes the need for automated portability similar to automatic enrollment and deferral increases - to effectively address the cash out problem.
RCH in BenefitsPro: Addressing the critical problem of 401(k) cash-outs
BenefitsPro's Nick Thonrton quotes RCH's CEO Spencer Williams on the problem of plan leakage through cash outs.
The unintended consequence of 401(k) auto-enrollment
Auto enrollment, codified in law by the Pension Protection Act of 2006, was drafted with the best of intentions to increase Americans' retirement savings but it has had the unintended consequence of impairing plan effectiveness. By proliferating small accounts in plans, auto enrollment has caused a decrease in average account balances throughout the U.S. retirement system. Adding to the urgency of this issue is the rising rate of auto enrollment adoption across defined contribution plans of all sizes, but particularly among larger plans.
RCH EVP Tom Johnson Talks Auto Portability with BlackRock's DCfocus
RCH EVP Tom Johnson sat down with BlackRock's DCfocus publication to discuss Auto Portability.
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