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Retirement Clearinghouse in the News
Find news articles referencing RCH and our services, including RCH Auto Portability
NAPA Net's Ted Godbout covers the May 22nd WISER roundtable, where RCH EVP Tom Johnson revealed new statistics highlighting the cashout problem for women with small 401(k) balances. Godbout goes on to examine the "portability solution" -- where auto portability could preserve the savings of 1 million women, on an annual basis, and 42 million women over a generation.
At a May 22nd, 2018 Women's Institute for a Secure Retirement (WISER) roundtable, RCH EVP Tom Johnson debuts new women's 401(k) cashout leakage statistics. This important new data highlights the challenges that women face in preserving their small-balance 401(k) retirement savings when changing jobs, and also points to the promise of auto portability to preserve these savings in order to achieve higher balance levels, where more virtuous behaviors can prevail.
In his latest article in Employee Benefit News, RCH’s President & CEO Spencer Williams takes on the predicament of missing participants, making the case that widespread adoption of auto portability is the most effective solution to the problem. Supporting his views with foundational research, Williams points to auto portability’s twin benefits of locating current addresses and consolidating small, stranded accounts as outcomes that collectively satisfy plan sponsors' fiduciary responsibilities, create financial wellness for participants and preserve $1.5 trillion in retirement savings over a generation.
In the 5/17/18 article "10 Easy ways Every Boomer Can Catch Up on Retirement Savings" journalist Cameron Huddleston offers Baby Boomers advice on how they can still save for retirement, quoting Neal Ringquist, RCH's EVP of Sales & Marketing.
In his 5/17/18 article for NAPA Net, noted industry researcher Warren Cormier takes a deep dive into the problem of missing participants, summarizing the findings of a recent Retirement Clearinghouse (RCH) study that measured the magnitude of the problem, identified participant behaviors and uncovered important demographic trends. In search of solutions, Cormier turns to RCH CEO Spencer Williams, and their discussion focuses on "Auto Locate" as the most-promising financial technology to address the problem.
In his recent article in 401K Specialist, RCH EVP Neal Ringquist makes a compelling case for plan sponsors to adopt a program of consolidation. "The elimination of missing participant accounts", says Ringquist, "may be the strongest argument for plan sponsors to move forward with a consolidation initiative."
PLANSPONSOR's John Manganaro reports on new DCIIA research (link) on plan distribution behavior, indicating the benefits to DC plans of including additional distribution options besides the traditional lump-sum benefit payment. Tom Johnson, RCH EVP & Head of Policy and Development, anchors an "impressive list of retirement industry analysts" in compiling the report, which is available to the public.
P&I's Meaghan KIlroy examines how plan sponsors and service providers, rather than waiting on guidance from Washington, are taking the lead in advancing solutions to deal with the missing participant problem in America's defined contribution system. RCH CEO Spencer Williams and EVP Neal Ringquist are both quoted in the article, which also mentions recent research conducted by RCH, as well the promise offered by auto portability's "auto locate" mechanism.