Media Coverage

Changing Jobs and Tempted to Cash Out Your 401(k)? Read This First (Future You Will Thank You)

Writing In Kiplinger.com, Retirement Clearinghouse (RCH) and Portability Services Network (PSN) CEO Spencer Williams addresses how the retirement industry is working to improve outcomes for the millions of annual job-changing 401(k) participants with small balances via auto portability, as delivered by PSN. Williams' piece cites detailed data on the phenomenon of systemic friction, the prevalence of job-changing and the incidence of cashout leakage, while addressing the reality behind so-called "forgotten accounts." Williams identifies auto portability as a viable solution to preserving 401(k) savings, and closes by observing: "[t]he real forgotten 401(k) problem is less about millions of Americans losing track of their savings, and more about whether the system makes it unnecessarily difficult to keep those savings consolidated."

New 401(k) Proposal Could Save Workers Millions In Lost Funds

Personal finance writer and author Catherine Collins examines the March 2026 proposal by Retirement Clearinghouse to build out a digital clearinghouse infrastructure for the U.S. retirement system, a proposal which she characterizes as "saving millions" for American workers. Collins cites America's mobile workforce and cash-out leakage as key problems and writes: "[t]he goal would be to help workers keep their 401(k)s retirement plans intact and reduce the amount of money lost to cash-outs" and "to use technology to ensure Americans do not lose track of their retirement accounts from previous employers."

Also featured in FinanceBuzz

Larger 401(k) Plans Embrace Auto Portability as Due Diligence Drives Confidence

Since late 2023, when auto portability – as delivered via the Portability Services Network (PSN) – became operational, the new plan feature has been steadily working its way from an innovative concept into a core best practice for addressing the chronic problem of retirement plan cashout leakage. What’s becoming increasingly clear is that larger 401(k) plans are now joining the movement in meaningful numbers. That shift represents an important inflection point: one where cautious, scale‑focused plan sponsors are completing their due diligence and becoming confident that auto portability delivers real, measurable value to participants without introducing unnecessary risk.

On Earth Day, Consider Auto Portability to ‘Recycle’ 401(k) Savings

On April 22nd, we celebrate the 56th annual Earth Day, and that gives RCH’s Tom Hawkins the opportunity to consider how the concept of recycling applies to our nation’s 401(k) system, which Hawkins characterizes as having a “waste problem” that manifests in the form of excessive cashout leakage and stranded accounts. By contrast, auto portability represents a sustainable solution that ‘recycles’ small-balance accounts, and its adoption is rapidly accelerating via members of the Portability Services Network (PSN).

Retirement Industry People Moves

PLANSPONSOR's Emily Boyle, covering significant people moves in the retirement industry, reports that "Steve Holman joined [RCH] as Senior Vice President of the Portability Services Network Strategy and Development, reporting to Neal Ringquist, RCH’s executive vice president and chief revenue officer. Holman will be responsible for accelerating plan sponsors’ adoption of automatic portability." Boyle also notes Holman's prior service as board member of PSN, representing Vanguard.

Ringquist Brings a PSN Ally into RCH

The 401kWire's Selma Khenissi covers RCH's recently announced hiring of Steve Holman, formerly of Vanguard, to serve as the Senior Vice President of Portability Services Network (PSN) Strategy & Development, reporting to Neal Ringquist, EVP & Chief Revenue Officer. According to the piece, Holman's role is to accelerate the adoption of auto portability, and his prior role with Vanguard and service on the PSN board uniquely positions him for success. Khenissi includes quotes from Ringquist, RCH's President & CEO Spencer Williams, as well as Holman, what states that "PSN Auto Portability is the long-awaited solution for closing our country's retirement savings gap."

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Millions lose track of their retirement savings. This plan wants to change that

EBN's Jimmy Nesbitt investigates the recent RCH whitepaper advocating for building out retirement industry clearinghouse infrastructure, and turns to author Spencer Williams, CEO of Retirement Clearinghouse and the Portability Services Network. Williams states that the purpose is to "keep people's savings intact. From a benefits perspective, nothing could be more clear, and it doesn't cost an employer one red cent." Nesbitt's piece also quotes PSN member TIAA's statement expressing support for auto portability, which Nesbitt notes is core technology for the clearinghouse expansion plan "which automatically moves a worker's retirement savings from an old employer's plan into a new one."

Financial Literacy and the Power of Preservation

Writing in NAPA Net, RCH's Tom Hawkins shares his impressions from the 3/31/26 SPARK Champions for Financial Literacy event in Washington, DC, which kicked off Financial Literacy Month. Hawkins notes the impressive line-up of speakers, including policy headliners Kevin Hassett, Director, National Economic Council and Luke Pettit, Assistant Secretary of the Treasury for Financial Institutions, and many others – all sharing relevant personal and professional experiences that spoke directly to the transformative power of financial literacy. However, it was the address by RCH President & CEO Spencer Williams, whose laser focus on savings preservation and his passionate advocacy for the building out of a “neutral, industry-scale clearinghouse” that could wind up being the most consequential message delivered at the event. Williams’ full speech is included in the article.

Also featured in PSCA.org

Previously featured in RCH's Consolidation Corner