Retirement Clearinghouse in the News

Find news articles referencing RCH and our services, including RCH Auto Portability


Jul
01
2022

Ask an Adviser: What happens if we learn a missing 401(k) plan participant has died?

RCH EVP & Chief Revenue Officer steps up to the plate for Employee Benefit News' Ask an Adviser series, answering the question "what happens if we learn a missing plan participant has died?" Ringquist proceeds to identify a series of steps that plan sponsors can take in the wake of learning the unfortunate news concerning a plan participant's demise. As a preventative measure, Ringquist advises plan sponsors to consider implementing an ongoing program of portability to consolidate participants' balances, reducing the odds that they'll leave behind multiple, smaller-balance retirement savings accounts that wind up being lost in the retirement system.

Jun
29
2022

New bill would automatically roll 401ks to new jobs

Writing in Yahoo News, reporter Thomas Gnau addresses the bipartisan “Advancing Auto Portability Act of 2022,” introduced by Sens. Sherrod Brown, D-Ohio, and Tim Scott, R-S.C. The legislation, Gnau writes, takes aim at "retirement plan leakage" and "aims to make it easier for workers to take 401K retirement accounts with them to new jobs." The piece quotes Sen. Brown, as well as RCH founder, president & CEO Spencer Williams.

Also featured in the Dayton Daily News and the Journal-News (Butler County)

Jun
28
2022

Brown, Scott Introduce Bill to Increase Retirement Security

U.S. Senator Sherrod Brown (D-OH) announces on his website (https://brown.senate.gov) that he and U.S. Senator Tim Scott (R-SC) have introduced the bipartisan Advancing Auto-Portability Act of 2022, a bill that would allow a worker’s 401(k) savings account to be automatically rolled over from a previous employer to a new employer. The legislation would cut red tape to help Americans who change jobs frequently to increase retirement savings.

Jun
27
2022

How Auto Portability Can Help Resolve America's Retirement Savings Crisis

Writing in Financial Adviser Magazine, noted private wealth expert Russ Alan Prince interviews Spencer Williams, RCH's founder, president & CEO about the company's new automatic feature, auto portability. The interview provides a clear overview of auto portability, including what it is, benefits to both plans and their participants, where the industry is heading and actionable steps that participants can take to maximize their retirement outcomes.

Jun
23
2022

Can This Bill Protect Retirement Savings for Workers Who Change Jobs?

Writing in SmartAsset, Wola Odeniran reports on the implications of the Advancing Auto-Portability Act of 2022, which was introduced by U.S. Sens. Tim Scott (R-SC) and Sherrod Brown (D-OH). Odeniran notes that the proposed legislation would provide employers with modest financial incentives to adopt auto portability, while individuals would benefit from having a "valuable safety net" to avoid cashout leakage, early withdrawal penalties, or in some cases, forgetting a retirement savings account.

Also featured on AOL.com

Jun
22
2022

SECURE 2.0 Momentum Surges with EARN Act’s Unanimous Committee Approval Today

401k Specialist Managing Editor Brian Anderson covers breaking, retirement-related legislative action in the US Senate, which voted unanimously in the Finance Committee to advance legislation that includes provisions for auto portability. Anderson's piece includes a synopsis of comments by Sen. Ron Wyden (D-OR) on the bill's four major reforms, including auto portability. Regarding auto portability, Anderson quotes Wyden as stating that the EARN Act is going to make portability "a whole lot simpler.”

Jun
22
2022

EARN Act Clears Senate Finance Committee

PLANSPONSOR's John Manganaro reports on the 6/22/22 unanimous approval by Senate Finance Committee of the EARN Act, which includes provisions for auto portability. Manganaro refers to a statement released by Kevin Barry, president of workplace investing at Fidelity Investments, who notes that "[t]he EARN Act will also help facilitate automatic portability between retirement plans through so that individuals’ savings can follow them through job changes.”

Also featured in PlanAdviser

Jun
21
2022

The Path(s) of Least Resistance

Writing in NAPA Net, the American Retirement Association's Chief Content Officer Nevin Adams examines the topic of 401(k) consolidation, or rather, the lack of it in our defined contribution system. Noting a litany of ills that result from unconsolidated accounts, Adams points to the recently introduced Advancing Auto Portability Act of 2022, which has the potential to create a new "path of least resistance" for small-balance job changers "that makes it easy for us to do the 'right' thing."

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