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Retirement Clearinghouse in the News
Find news articles referencing RCH and our services, including RCH Auto Portability
ASPPA Net's John Iekel examines the recent column by J. Mark Iwry, former Senior Advisor to the Secretary of the Treasury, which addresses the recent actions by the DOL in support of the RCH auto portability program. Iwry, says Iekel, offers a unique perspective, having been a long-time proponent of retirement savings portability, and also having witnessed firsthand the difficulties in moving portability policy initiatives forward.
El Paso Times guest columnist Ed Shugert makes the case for retirement savers staying invested in the market over the long-term, while citing RCH research data. Shugert shares his personal experiences with long-term investing and in moving his retirement savings forward following a career move, and shares RCH's figures on annual job-changing and cashouts.
The 401kWire's Neil Anderson takes the pulse of some key retirement industry figures in his 11/26/18 piece "What to Make of Auto-Portability." Quoting Lew Minsky (DCIIA), Steve Saxon (Groom Law), Lynn Dudley (American Benefits Council) and Tim Rouse (Spark Institute), the consensus is that auto-portability, as well as the DOL's recent actions, represent positive developments for the retirement industry. Finally, Anderson speaks with RCH President & CEO Spencer Williams, who discusses his going-forward initiative to ramp up outreach to recordkeepers.
On 11/25/18, Forbes contributor Robert C. Lawton provides readers with a list of the "11 most significant 401(k) plan misconceptions." In misconception #3, titled "Rolling a 401(k) account into an IRA is a good idea" - Lawton suggests that, for many, rolling over a 401(k) to an IRA may not be in their favor. When it comes to small-balance job-changers, Lawton cites the DOL's recent actions on auto portability, stating that "the Department of Labor agrees, as shown in its recent auto portability proposal."
Following the U.S. Department of Labor's actions on auto portability, PlanAdviser seeks input from industry stakeholders affected by the program, including Callan's Jana Steele, J.P. Morgan's Anne Lester and the Wagner Law Group. J.P. Morgan's Steele, the article states, believes that "auto-portability is the next natural extension of plan design innovations from the past decade, including auto-enrollment, auto-escalation, and auto-investment allocation via target-date funds and managed accounts."
In the wake of the U.S. Department of Labor's actions on auto portability, PLANSPONSOR's John Managaro follows up with key stakeholders affected by the program, including J.P. Morgan's Anne Lester, the Wagner Law Group and Callan's Jana Steele, who concludes that "auto-portability is the next natural extension of highly successful plan design innovations from the past decade."
Inc.: Switching Jobs? Your 401(k) Balance Could Be Automatically Transferred Under a New Federal Rule
Inc. features a syndicated piece by Myles Ma, originally published in Policygenius Magazine, examining the Department of Labor's recent, favorable actions on the RCH auto portability program. Taking a balanced approach, Ma explains the importance of the auto portability program in helping solve the "cash-out crisis", discusses how the program works, consults experts for their opinion and notes the public comment period, which ends Dec. 24th.
In his 11/19/18 opinion piece in The Hill, former U.S Treasury official and senior fellow in economic studies at The Brookings Institution Mark Iwry writes about his personal, 22-years long advocacy for 401(k) portability, dating back to the Clinton administration. Not much had changed in that time, says Iwry, until last week's guidance by the Department of Labor (DOL) on auto portability, led by the efforts of RCH executives Spencer Williams and Tom Johnson. With the way cleared by the DOL, Iwry notes that auto portability's success will now depend on the "willingness of recordkeepers...to cooperate so participants can enjoy expanded portability."