Auto Portability in the News

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


Feb
08
2021

Missing Participants: Five Important Considerations for Plan Sponsors

Writing in RCH's Consolidation Corner, Tom Hawkins offers retirement plan sponsors five important considerations that can help focus their efforts in designing, implementing and administering an effective program of locating missing participants. By staying focused on some key principles, including the adoption of sound search practices and retirement savings portability, plan sponsors can successfully navigate their near-term missing participant problems, while positioning their plan for far fewer problems in the future.

Feb
05
2021

Alight 2020 Hot Topics: Most Employers Interested in Auto Portability

In their survey Hot Topics in Retirement and Financial Wellbeing 2021, Alight Solutions finds that "the majority of employers are interested in a clearinghouse service that will automatically roll balances from one employer’s DC plan to another employer’s plan when individuals change jobs."

Jan
26
2021

New 401k Missing Participant Research Reinforces DOL Guidance

Writing in 401k Specialist, Tom Hawkins reveals RCH's new missing participant study, Improving the Effectiveness of Electronic Missing Participant Searches, which comes on the heels of Department of Labor (DOL) guidance and is highly-useful for plan sponsors who utilize electronic searches, or “e-Searches” as they are referenced in the study.

Jan
20
2021

EBN: How sponsors can facilitate better retirement participant outcomes and improve plan metrics in 2021

In his opinion piece for Employee Benefit News, RCH President & CEO Spencer Williams offers 401(k) plan sponsors two New Year's resolutions that could improve participant outcomes and boost plan metrics. Specifically, Williams suggests that plan sponsors 1) implement a robust missing participant search program and 2) eliminate the practice of automatic cash-outs. Fortunately, adds Williams, both of these resolutions can be achieved when plan sponsors embrace an auto portability program.

Jan
14
2021

Recordkeeper Consolidation May Be Coming, But Don’t Squeeze The Participant!

NWPS, a service provider for benefit plan sponsors, addresses the trend towards consolidation in the recordkeeping industry, and offers their reaction to the antithetical notion that the goal of consolidation is to "monetize the participants." The NWPS article goes on to chronicle the major, participant-centric advances that have propelled the industry forward, and includes auto portability in their short list.

Dec
19
2020

How Sponsors can Facilitate Better Participant Outcomes and Improve Plan Metrics in 2021

Writing in the Consolidation Corner blog, RCH President & CEO Spencer Williams offers 401(k) plan sponsors two New Year's resolutions that could improve participant outcomes and boost plan metrics. Specifically, Williams suggests that plan sponsors 1) implement a robust missing participant search program and 2) eliminate the practice of automatic cash-outs. Fortunately, adds Williams, both of these resolutions can be achieved when plan sponsors embrace an auto portability program.

Dec
14
2020

​Podcast Episode 15—What’s Wrong With 401k Coverage and Balances? Alicia Munnell from the Center for Retirement Research Explains

In his most recent podcast, John Sullivan interviews Dr. Alicia Munnell, director of the Center for Retirement Research at Boston College, about retirement plan coverage, leakage and other issues currently affecting 401ks. Sullivan poses the question about Auto Portability being the effective solution to the problem of leakage; Munnell's responds stating, "Auto Portability is important because it would reduce cashing out of small amounts." She goes on to mention that "Retirement Clearinghouse has been leading the way on this issue for a long time and it seems now they're poised to make a real difference."

Dec
09
2020

Auto Portability Featured in Senate Finance Subcommittee Hearing

In a Senate Finance subcommittee hearing held on 12/9/20 (Investigating Challenges to American Retirement Security) expert witness Michael P. Kreps offered testimony highlighting the problem of cashout leakage and pointing to auto portability as a near-term solution for "millions of plan participants early next year." Following Kreps testimony, strong bipartisan support for auto portability was voiced by Sen. Sherrod Brown (D-OH), Sen. James Lankford (R-OK) and Sen. Catherine Cortez-Masto (D-NV).

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