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Auto Portability in the News
Browse the most comprehensive collection of articles in the media that feature auto portability.
In her October 10th, 2018 article "Don't Let a 'Leaky' 401(k) Mess Up Your Retirement" Barron's reporter Reshma Kapadia examines the problem of 401(k) cashout leakage. Kapadia cites recent research by Retirement Clearinghouse, which explores the impact on minority savers of pairing savings preservation (via auto portability) with the open MEPs expanded access initiative.
On 10/5/18, NAPA Net released the results of a reader poll, asking NAPA Net readers to identify the "next big things" in 2019. Auto Portability came in #7 on the list, ahead of perennial favorites such as "behavioral finance techniques" and "financial wellness." #1 on the list were multiple employer plans, or "open MEPs" - which was cited by 56% of respondents.
In this article, RCH's Spencer Williams and Tom Hawkins address an important retirement public policy question: How would a pairing of auto portability with open multiple employer plans (or “open MEPs”) impact the retirement savings of America’s minorities, and particularly, African-Americans?
PLANSPONSOR's Lee Barney addresses new research released by EBRI, which models the effects of the Automatic Retirement Plan Act of 2017 (ARPA), and then combines ARPA with auto portability. The EBRI research reveals that if ARPA were to be combined with auto portability, the retirement savings shortfall (RSS) would dramatically reduce the $4.3 trillion deficit by $932 billion, or 22.6%.
In his latest article in BenefitsPRO, RCH EVP Spencer Pringle offers job-changing 401(k) participants important tips on how to avoid becoming a 401(k) DIY “horror story.” Pringle examines three DIY scenarios for participants to avoid, including cashing out, stranding a 401(k) balance at a previous employer and finally, attempting a DIY roll-in. Auto portability, education and assistance, says Pringle, are keys to overcoming the traps.
PlanAdviser's Rebecca Moore reviews research by Retirement Clearinghouse that looks at the related problems of 401(k) missing participants and cashouts. The RCH analysis is based upon RCH's Auto Portability Simulation and Boston Research Technologies' March 2018 Missing Participant Survey comparing and contrasting the two problems from a systemic perspective, The article concludes that auto portability could serve as a strategic solution to minimize both. Moore's piece also references a previous article by RCH CEO Spencer Williams, and quotes RCH's Neal Ringquist and Tom Hawkins.
PLANSPONSOR's Rebecca Moore examines recent analysis by Retirement Clearinghouse that looks at the twin problems of 401(k) missing participants and cashouts. The RCH analysis, based upon RCH's Auto Portability Simulation and Boston Research Technologies' March 2018 Missing Participant Survey, compares and contrasts the two problems from a systemic perspective, and offers auto portability as a strategic solution to minimize both. Moore's piece also references a previous article by RCH CEO Spencer Williams, and quotes RCH's Neal Ringquist and Tom Hawkins.
As the 40th anniversary of legislation enabling the 401(k) draws near, RCH President & CEO Spencer Williams predicts that the next big advancement for the 401(k) will be the “seamless portability and consolidation” brought about by auto portability. The benefits that auto portability will deliver, estimated by EBRI to be as much as $1.5 trillion, could be “right around the corner” and will help millions of Americans achieve a financially secure retirement.