News

Larger 401(k) Plans Embrace Auto Portability as Due Diligence Drives Confidence

Since late 2023, when auto portability – as delivered via the Portability Services Network (PSN) – became operational, the new plan feature has been steadily working its way from an innovative concept into a core best practice for addressing the chronic problem of retirement plan cashout leakage. What’s becoming increasingly clear is that larger 401(k) plans are now joining the movement in meaningful numbers. That shift represents an important inflection point: one where cautious, scale‑focused plan sponsors are completing their due diligence and becoming confident that auto portability delivers real, measurable value to participants without introducing unnecessary risk.

Previously featured in the RCH Consolidation Corner blog

PSCA National Kicks Off with a Look Inside Washington

Reporting on Day 1 of the 2026 PSCA National Conference, ARA Chief Content Officer John Sullivan recaps the action, which included a roundup of the latest retirement policy developments. Led by PSCA Executive Director Will Hansen, the session addressed key legislative initiatives that should be top-of-mind for plan sponsors. Hansen urged plan sponsors to have four takeaways, which included the confirmation of their recordkeeper's ability to accept Saver's Match contributions, as well as the need to evaluate auto portability -- a "hot topic" that Hansen believes could eventually become a mandate, and "would reduce leakage, missing participants, and the fraud surface area created by mailed checks."

Also featured in PSCA News

You could be losing thousands every time you change jobs

Writing in the Washington Post, personal finance report Michelle Singletary -- author of the nationally syndicated personal finance column “The Color of Money” -- addresses the problem of small-balance 401(k) cashout leakage, its disproportionate impact on minorities, and the solution afforded by auto portability, as delivered by the Portability Services Network (PSN). Singletary turns to visionary entrepreneur Bob Johnson, Chairman of both Retirement Clearinghouse (RCH) and PSN, to understand the genesis of the innovative service, a "game changer because it simplifies the movement of retirement assets." Singletary also quotes RCH & PSN CEO Spencer Williams on the mechanisms underlying auto portability, as well as turning to Vanguard's Fiona Grieg, global head of investor research and policy for her views. Singletary closes by stating that auto portability is "a brilliant plan that can help create legacy wealth for so many families."

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Who is eligible for Trump’s new order expanding retirement benefits?

Staff writer Ryan Mancini of The Hill reports on a new executive order signed by President Trump that expands retirement benefits for employees without access to an employer-sponsored retirement plan. As Mancini notes, Trump’s order coincides with the upcoming launch of Saver’s Match, and turns to data and research provided by Retirement Clearinghouse (RCH), which describes the program's parameters, as well as a survey jointly conducted by RCH and Boston Research Technologies, which "found in April 2024 that Black and Hispanic savers will make up the larger portion of those expected to receive federal matching contributions through the program."

Changing Jobs and Tempted to Cash Out Your 401(k)? Read This First (Future You Will Thank You)

Writing In Kiplinger.com, Retirement Clearinghouse (RCH) and Portability Services Network (PSN) CEO Spencer Williams addresses how the retirement industry is working to improve outcomes for the millions of annual job-changing 401(k) participants with small balances via auto portability, as delivered by PSN. Williams' piece cites detailed data on the phenomenon of systemic friction, the prevalence of job-changing and the incidence of cashout leakage, while addressing the reality behind so-called "forgotten accounts." Williams identifies auto portability as a viable solution to preserving 401(k) savings, and closes by observing: "[t]he real forgotten 401(k) problem is less about millions of Americans losing track of their savings, and more about whether the system makes it unnecessarily difficult to keep those savings consolidated."

New 401(k) Proposal Could Save Workers Millions In Lost Funds

Personal finance writer and author Catherine Collins examines the March 2026 proposal by Retirement Clearinghouse to build out a digital clearinghouse infrastructure for the U.S. retirement system, a proposal which she characterizes as "saving millions" for American workers. Collins cites America's mobile workforce and cash-out leakage as key problems and writes: "[t]he goal would be to help workers keep their 401(k)s retirement plans intact and reduce the amount of money lost to cash-outs" and "to use technology to ensure Americans do not lose track of their retirement accounts from previous employers."

Also featured in FinanceBuzz

Retirement Industry People Moves

PLANSPONSOR's Emily Boyle, covering significant people moves in the retirement industry, reports that "Steve Holman joined [RCH] as Senior Vice President of the Portability Services Network Strategy and Development, reporting to Neal Ringquist, RCH’s executive vice president and chief revenue officer. Holman will be responsible for accelerating plan sponsors’ adoption of automatic portability." Boyle also notes Holman's prior service as board member of PSN, representing Vanguard.

Ringquist Brings a PSN Ally into RCH

The 401kWire's Selma Khenissi covers RCH's recently announced hiring of Steve Holman, formerly of Vanguard, to serve as the Senior Vice President of Portability Services Network (PSN) Strategy & Development, reporting to Neal Ringquist, EVP & Chief Revenue Officer. According to the piece, Holman's role is to accelerate the adoption of auto portability, and his prior role with Vanguard and service on the PSN board uniquely positions him for success. Khenissi includes quotes from Ringquist, RCH's President & CEO Spencer Williams, as well as Holman, what states that "PSN Auto Portability is the long-awaited solution for closing our country's retirement savings gap."

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