Auto Portability in the News

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


Aug
01
2019

‘Auto-portability’ gets green light from DOL

In an 8/1/19 article, the editorial staff of the Retirement Income Journal covers the US Department of Labor's issuance of a final prohibited transaction exemption (PTE) for the RCH Auto Portability program. The article cites the final PTE as a key milestone in a five-year effort to gain regulatory approval for auto portability, and credits RCH executives Spencer Williams and Tom Johnson for their ongoing efforts since 2014.

Jul
31
2019

Auto portability program gets thumbs up by regulators

In his 7/31/19 article, P&I Legal and Regulatory reporter Brian Croce covers the Department of Labor's issuance of their final prohibited transaction exemption (PTE) for RCH Auto Portability, stating that the DOL's action "gave Retirement Clearinghouse LLC the green light ..to expand its auto-portability program, which is expected to reduce plan leakage and missing participants." Croce quotes Robert L. Johnson, founder and chairman of The RLJ Companies, as well as RCH Founder, President and CEO Spencer Williams.

Jul
31
2019

DOL guidance gives OK to retirement savings auto portability program

Employee Benefit News' Caroline Hroncich reports on the Department of Labor's issuance of a final prohibited transaction exemption (PTE) for the RCH Auto Portability program, which she characterizes as "a move which may decrease the likelihood employees cash out their retirement plans when they switch jobs." Hroncich quotes RCH Founder, President and CEO Spencer Williams, as well as Jan Jacobson, senior counsel for retirement policy at the American Benefits Council.

Jul
31
2019

DOL Okays RCH's Auto-Portability Program

NAPA Net's Ted Godbout covers breaking news that the US Department of Labor has granted final approval to Retirement Clearinghouse (RCH) for a Prohibited Transaction Exemption (PTE) for the RCH Auto Portability program. As Godbout states, "the RCH Program seeks to help eliminate duplicative fees and reduce retirement savings leakage by providing individuals who are changing jobs with a way to transfer retirement assets from their prior employers’ plans to their new employers’ plans." Godbout also references the DOL's Advisory Opinion 2018-01A, issued in November 2018, and cites EBRI research indicating that system-wide adoption of auto portability for "smaller accounts alone would save $1.5 trillion."

Also featured in ASPPA Net

Jul
31
2019

An Important Milestone: The DOL Issues Final Prohibited Transaction Exemption for Auto Portability

In his 7/31/19 article in Consolidation Corner, RCH Founder, President & CEO Spencer Williams addresses the latest action by the U.S. Department of Labor (DOL), issuing the final Prohibited Transaction Exemption (PTE) to Retirement Clearinghouse (RCH) for the RCH Auto Portability program, completing the regulatory framework and clearing the way for auto portability’s widespread adoption

Jul
30
2019

401k Cashout Confusion: Who’s Doing It and Why?

In his five-part series in 401k Specialist, RCH's Tom Hawkins sheds light on the problem of cashout leakage, a silent crisis that unnecessarily robs millions of Americans of their retirement security. In his second article in the series, Hawkins examines the demographics of 401(k) cashout leakage, identifying those segments of the population most impacted by the problem, as well as those who stand to benefit the most from a solution.

Jul
26
2019

The Demographics of 401(k) Cashout Leakage

In his five-part series in Consolidation Corner, RCH's Tom Hawkins sheds light on the problem of cashout leakage, a silent crisis that unnecessarily robs millions of Americans of their retirement security. In his second article in the series, Hawkins examines the demographics of 401(k) cashout leakage, identifying those segments of the population most impacted by the problem, as well as those who stand to benefit the most from a solution.

Jul
25
2019

Preparing Employees for Retirement, a Global Comparison

PLANSPONSOR's Amanda Umpierrez reports on the major findings from the 2019 Aegon Retirement Readiness Survey, which provided a comparative analysis of retirement readiness in countries around the world. Summarizing the key takeaways for employers, Umpierrez turns to Transamerica's Catherine Collison, who suggests "that the U.S. government can require employers to offer auto-enrollment in retirement plans......and can continue efforts to implement retirement plan auto-portability."

Also featured in PlanAdviser

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Top Five Misconceptions About Auto Portability