News

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."

Millions lose track of their retirement savings. This plan wants to change that

EBN's Jimmy Nesbitt investigates the recent RCH whitepaper advocating for building out retirement industry clearinghouse infrastructure, and turns to author Spencer Williams, CEO of Retirement Clearinghouse and the Portability Services Network. Williams states that the purpose is to "keep people's savings intact. From a benefits perspective, nothing could be more clear, and it doesn't cost an employer one red cent." Nesbitt's piece also quotes PSN member TIAA's statement expressing support for auto portability, which Nesbitt notes is core technology for the clearinghouse expansion plan "which automatically moves a worker's retirement savings from an old employer's plan into a new one."

Financial Literacy and the Power of Preservation

Writing in NAPA Net, RCH's Tom Hawkins shares his impressions from the 3/31/26 SPARK Champions for Financial Literacy event in Washington, DC, which kicked off Financial Literacy Month. Hawkins notes the impressive line-up of speakers, including policy headliners Kevin Hassett, Director, National Economic Council and Luke Pettit, Assistant Secretary of the Treasury for Financial Institutions, and many others – all sharing relevant personal and professional experiences that spoke directly to the transformative power of financial literacy. However, it was the address by RCH President & CEO Spencer Williams, whose laser focus on savings preservation and his passionate advocacy for the building out of a “neutral, industry-scale clearinghouse” that could wind up being the most consequential message delivered at the event. Williams’ full speech is included in the article.

Also featured in PSCA.org

Previously featured in RCH's Consolidation Corner

21,400 Plans Plug into One Network. The Creators Propose 3 More

The 401k Wire's Selma Khennisi writes about a recently-released whitepaper, authored by Retirement Clearinghouse (RCH) president & CEO Spencer Williams, "whose team are proposing a trio of new defined contribution clearinghouse networks less than three years after the debut of [an Auto Portability Network]." The paper makes the case for an Auto Locate Network (ALN), a Saver's Match Network (SMN) and a Digital Rollover Network (DRN). Describing auto portability's technology as employed by the Portability Services Network, Williams explains that "it consists of a patented search engine technology that helps locate, match and validate retirement accounts" before moving them to current-employers' plans.

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Policy Experts See Trump Accounts as Future Hub for Rollovers

Writing in PSCA News, Paul Mulholland explores the potential implications of integrating Trump Accounts into our retirement system, "such as using them to assist in account consolidation and to increase uptake of the Saver’s Match." Mulholland turns to policy experts, including RCH's Neal Ringquist, who opines that "a lot would have to change legally for Trump accounts to be used" for consolidation purposes. As it pertains to the Saver's Match, Ringquist notes that "the $1,000 seed money contributions for Trump accounts can add interfacing experience between the Treasury Department and financial institutions which will be helpful in implementing the Saver’s Match."

Keeping the Missing Participant Search Compliant

PLANSPONSOR's Emily Boyle examines the current art & science of locating missing participants, concluding that plan sponsors must still take seriously their fiduciary responsibilities to address them. Boyle refers to RCH's "recommended three best practices for plan sponsors based on whether a participant is ahead, nearing or past a distribution event" and further cites industry expert Heather Bader, who believes that "automatic plan portability offered by the Portability Services Network LLC....will go a long way in helping solve the missing-participant issue." Boyle then turns to RCH EVP & Chief Revenue Officer Neal Ringquist, who offers key PSN metrics, adding that RCH has "released a white paper advocating that a neutral, shared, digital clearinghouse" based on the auto portability model, to form the basis for "a clearinghouse for the U.S. retirement system."

Could a Centralized Clearinghouse Fix 401(k) System Challenges?

Writing in 401kTV.com, Fred Barstein examines the recent proposal by Retirement Clearinghouse to build out a clearinghouse structure for America's retirement system, acknowledging its merit by observing that: "creating a centralized clearinghouse....allows retirement providers to securely exchange data and automatically move accounts when workers change jobs. Instead of today’s fragmented, often manual process, the system could operate more like a digital network that tracks and transfers retirement assets behind the scenes."