Auto Portability in the News

Browse the most comprehensive collection of articles in the media that feature auto portability.


Oct
05
2022

Record keepers launch auto-portability consortium to reduce plan leakage

Pensions & Investments DC reporter Brian Croce reports breaking news that three of the nation's largest record keepers -- Fidelity, Alight and Vanguard -- are teaming up with Retirement Clearinghouse LLC to launch an industry-led auto-portability consortium aimed at reducing plan leakage and improving retirement outcomes. Croce's piece quotes RCH president & CEO Spencer Williams, while noting that "record keepers that own or participate in the consortium will not receive any compensation for facilitating auto portability transactions from participants."

Sep
27
2022

Why DEI and ‘Traditional’ Automatic Rollovers Don’t Mix

When it comes to 401(k) diversity, equity, and inclusion (DEI) initiatives, RCH’s Tom Hawkins observes broad support for expanded access and automatic features, since they “are supportive of increasing participation and asset accumulation across all demographics.” No one, writes Hawkins, points to ‘traditional’ automatic rollovers as facilitating DEI goals, as they “penalize the very demographic segments that DEI initiatives strive to uplift.” Hawkins urges plan sponsors to re-tool ‘traditional’ automatic rollover programs to include education and assistance and to incorporate auto portability – delivering more equitable retirement outcomes for under-saved and under-served participants.

Sep
26
2022

Why DEI and ‘Traditional’ Automatic Rollovers Don’t Mix

When it comes to 401(k) diversity, equity, and inclusion (DEI) initiatives, RCH’s Tom Hawkins observes broad support for expanded access and automatic features, since they “are supportive of increasing participation and asset accumulation across all demographics.” No one, writes Hawkins, points to ‘traditional’ automatic rollovers as facilitating DEI goals, as they “penalize the very demographic segments that DEI initiatives strive to uplift.” Hawkins urges plan sponsors to re-tool ‘traditional’ automatic rollover programs to include education and assistance and to incorporate auto portability – delivering more equitable retirement outcomes for under-saved and under-served participants.

Sep
16
2022

How 401k Consultants Miss the Automatic Rollover Mark

401(k) plan consultants have been forceful advocates for the adoption of best practices at leading retirement plan sponsors. However, when it comes to automatic rollover programs, plan consultants sometimes miss the mark, at least in terms of participant outcomes. RCH's Tom Hawkins, writing in 401k Specialist, makes the case that 401(k) plan consultants should extend their analysis to emphasize those automatic rollover program components that help participants improve their retirement outcomes by avoiding cashouts, moving their retirement savings forward, and keeping their stay in safe harbor IRAs as brief as possible.

Previously featured in the RCH Consolidation Corner Blog

Also featured in The Wealth Advisor

Sep
15
2022

How Consultants Can Miss the Mark on 401(k) Automatic Rollovers

401(k) plan consultants have been forceful advocates for the adoption of best practices at leading retirement plan sponsors. However, when it comes to automatic rollover programs, plan consultants sometimes miss the mark, at least in terms of participant outcomes. RCH's Tom Hawkins, writing in the Consolidation Corner blog, makes the case that 401(k) plan consultants should extend their analysis to emphasize those automatic rollover program components that help participants improve their retirement outcomes by avoiding cashouts, moving their retirement savings forward, and keeping their stay in safe harbor IRAs as brief as possible.

Sep
07
2022

401k Plans: An Ongoing Public-Private Partnership That Works

In observance of National 401(k) Day on Friday, September 9th, RCH's Tom Hawkins takes the opportunity to reflect on the long-running, highly successful public-private collaboration that has fostered the rapid ascendance of America’s 401(k) system. Writing in 401k Specialist Magazine, Hawkins states that "this partnership will continue to drive innovations that will expand and improve the 401k system for millions of Americans – not only helping them to save more but preserving more of their savings for retirement."

Sep
07
2022

401(k) Plans: An Ongoing Public-Private Partnership That Works

In observance of National 401(k) Day on Friday, September 9th, RCH's Tom Hawkins takes the opportunity to reflect on the long-running, highly successful public-private collaboration that has fostered the rapid ascendance of America’s 401(k) system. Hawkins writes that "this partnership will continue to drive innovations that will expand and improve the 401(k) system for millions of Americans – not only helping them to save more but preserving more of their savings for retirement."

Aug
31
2022

Every Dollar Saved for Retirement Matters -- So Save More By Avoiding Cash-Outs & Consolidating 401(k) Accounts

RCH Founder, President & CEO Spencer Williams examines the implications of a study from Boston College's Center for Retirement Research, finding that the youngest Baby Boomers, with less access to defined benefit (DB) plans than their predecessors, are drawing down their 401(k)-based retirement savings at much faster rates, with many poised to run out of retirement savings by age 85. These findings underscore the need to preserve more 401(k) savings for younger generations, and according to Williams, the best way to do that is "to consolidate 401(k) savings accounts.....and to avoid making any premature cash-outs." Sponsors, states Williams, "can....help participants save more for retirement, so they don’t outlive their savings, by adopting auto portability.

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