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Auto Portability in the News
Browse the most comprehensive collection of articles in the media that feature auto portability.
InvestmentNews correspondent Emile Hallez reports on a retirement study published on 9/21/21 by the Brookings Institution, examining the problem of small accounts. While the paper examined a myriad of potential policy solutions to the problem, it acknowledged "private-sector" efforts by Retirement Clearinghouse to implement auto portability. On the same day the Brookings' paper was released, Hallez also notes the announcement by Vanguard that it will offer RCH Auto Portability, the private sector solution, and joining Alight Solutions.
InvestmentNews reports that Vanguard has engaged Retirement Clearinghouse (RCH), to introduce auto portability for sponsor clients and their plan participants, and that the service is expected to launch in mid-2022. The piece also quotes John James, managing director and head of Vanguard’s institutional investor group.
PLANSPONSOR's Rebecca Moore reports on the news from Vanguard of their plans to introduce the RCH Auto Portability service for their 401(k) sponsor clients and their participants. Moore's article notes that "the RCH Auto Portability program automates the movement of an employee’s 401(k) savings account from their former employer’s plan into an active account with their current employer’s plan" and "can also help simplify plan administration and improve plan compliance by reducing the instances of abandoned accounts and uncashed checks."
Ignites' Ben Miller reports on the 9/21/21 announcement by Vanguard that it will introduce an auto portability service for 401(k) sponsor clients and their participants, and that the firm has engaged Retirement Clearinghouse, LLC (RCH) to provide plan sponsors with the new portability solution.
Writing for The Philadelphia Business Journal, Jeff Blumenthal reports on the Vanguard Group's plans to introduce the RCH Auto Portability service "that allows 401(k) participants to move their account from old job to a new employer's plan automatically." Blumenthal also notes recent RCH business milestones, including surpassing the $10 billion retirement consolidation threshold, as well as the firm's relationship with Alight Solutions, and by extension, anticipated business activities to be provided in support of the Federal Thrift Savings Plan.
The staff of NAPA Net, the National Association of Plan Advisors' (NAPA) news site, reports on the 9/21/21 announcement by Vanguard that it will introduce RCH's auto portability service for their 401(k) sponsor clients and their participants, targeting mid-2022.
The 401k Wire's Neal Anderson reports on the day's announcement by Vanguard that it plans to introduce RCH's auto portability service for 401(k) sponsor clients and their participants. Anderson also turned to RCH President & CEO Spencer Williams for comment, who stated that "we're extremely happy" with the development, while adding "we don't intend to stop there."
Ginger Szala, executive managing editor of Investment Advisor magazine, updates her readership on the 9/21/21 announcement by Vanguard, which Szala notes "has joined forces with Retirement Clearinghouse to provide an auto-portability service that allows 401(k) participants to have their defined contribution plans automatically roll over when changing jobs."