Forbes' Ashlea Ebeling uses RCH's Auto Portability Simulation (APS) model to illustrate how Millennials are sabotaging their retirement. Ebeling quotes RCH President & CEO Spencer Williams, fresh from unveiling the model at EBRI's annual Policy Forum in Washington DC: “We know that this population of job changers with small balances is inert; if they do respond they cash out.” Ebeling goes on to cite key improvements that would be brought about through Auto Portability, including millions of savers who would roll-in their small-balance retirement savings, vs. cashing them out.
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Individuals should consult their tax advisers or legal counsel for advice and information concerning their particular situation. Retirement Clearinghouse does not give legal, investment, or tax advice. IRA account fees and product information provided by Retirement Clearinghouse, LLC is subject to change without notice at the discretion of the IRA Provider. RCH Shareholder Services is a wholly owned subsidiary of Retirement Clearinghouse, LLC and a registered transfer agent with the U.S. Securities and Exchange Commission.
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