Auto Portability in the News

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


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).

Dec
02
2020

Retirement Clearinghouse receives investment from billionaire John C. Malone

The Editorial Staff of the Retirement Income Journal reports on the recent announcement that John C. Malone, chairman of Liberty Media Group, has taken a minority ownership stake in RCH, which is majority-owned by Robert L. Johnson, chairman of The RLJ Companies. The authors state that Malone made the investment after becoming "convinced...of the importance of reducing leakage from qualified plans." The article also notes that the investment comes on the heels of RCH's previous announcement that Alight Solutions will lead the nationwide launch of the RCH Auto Portability Program, and will serve to address the problem of cashout leakage that occurs disproportionately among Black and Hispanic workers.

Nov
26
2020

Billionaire Media Mogul John Malone Invests in BET Founder Bob Johnson's 401(k) Program

Black Enterprise's Jeffrey McKinney examines the "reconnection" between "serial entrepreneur Robert Johnson and media mogul John Malone" -- taking the form of a minority stake investment by Malone in Retirement Clearinghouse (RCH). In the piece, Malone cites RCH's 401(k) auto portability as the kind of practical "inclusive capitalism" that motivated his action. McKinney cites Johnson's economic activism and quotes Johnson, who states that the pair "have a long history of taking on big challenges" and with Malone's guidance, will "do our part to close the wealth gap for America's minority communities."

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