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Retirement Clearinghouse in the News
Find news articles referencing RCH and our services, including RCH Auto Portability
Portability on Steroids: Let’s See It! – Part Two
In part 2 of their 2-part interview, RCH’s Spencer Williams continues to discuss auto portability with Lisa Massena, Founder of Massena Associates. In part 2, Williams turns to the importance of Alight Solutions (the first large recordkeeper who has adopted auto portability), touches on a range of views on auto portability from within the DC Beltway, and offers his insight on broader issues, including the overall level of retirement savings coverage.
Portability on Steroids: Let’s See It!
In part 1 of their 2-part interview, RCH’s Founder, President & CEO Spencer Williams takes on the topic of auto portability with Lisa Massena, Founder of Massena Associates and publisher of the Retirement Security Matters newsletter. In part 1, their conversation highlights the fundamental dynamics driving the need for auto portability and offers readers a primer on how auto portability works.
Cracking the Code to True 401k Portability
Writing in 401k Specialist, RCH's Tom Hawkins notes that America’s 401(k) system, long plagued by friction, produces $92.4 billion of excessive cash-out leakage annually. However, in recent years and culminating in 2021, the private sector has finally “cracked the code” and is delivering innovative fintech solutions, combined with education and personal assistance to reduce friction and to enable true 401(k) portability.
When ‘Herding’ Helps
PLANSPONSOR's John Keefe takes a broad look at account consolidation within the defined contribution system, consulting a host of industry experts, including RCH's Spencer Williams and Neal Ringquist. Noting key DOL stats, Ringquist dimensions the problem of stranded accounts in the DC system. Williams then describes the difficulties facing most participants in moving retirement savings forward, while referencing RCH's efforts to automate balance transfers, the establishment of a network of recordkeepers and engagements with mega plan sponsors.
Consolidating Gains from a 401k Portability Program
Following on to the 2013 study by Boston Research Group (now Boston Research Technologies), a new study released by Retirement Clearinghouse (RCH) revisits a mega plan sponsor’s ongoing experience with a program of 401(k) retirement savings portability, and finds that not only have the benefits of the original program persisted, they’ve grown, with plan participants continuing to realize significant, measurable benefits.
This Fintech Bets On 401(k)s That Are Auto-Portable
Writing in Financial Advisor Magazine, Christopher Robbins shares his interview with RCH President & CEO Spencer Williams, who provides Robbins his perspective on the long path to auto portability. Joining the firm in 2007, Williams shares some key moments along the way, beginning in 2013 when the "light bulb came on" regarding auto portability, to the DOL's enabling regulation in 2018-2019, and culminating with Alight Solutions' adoption of the RCH Auto Portability service in July 2020.
Auto portability is, and always will be, a bipartisan solution
Writing in an opinion piece in Employee Benefit News, RCH President & CEO Spencer Williams addresses the consistent bipartisan support that auto portability has enjoyed in DC. This support, writes Williams, transcends party affiliation, extending across multiple Presidential administrations as well as both legislative branches of the U.S. Congress, and falls squarely in-line with policy initiatives that advance the interests of minority and low-income workers. Williams provides readers with an impressive, years-long list of actions & endorsements that reflect auto portability's broad-based support, which culminated last year with the nationwide rollout of the program.
5 Considerations for 401k Sponsors About Missing Participants
Writing in 401k Specialist, RCH's Tom Hawkins offers retirement plan sponsors five important considerations that can help focus their efforts in designing, implementing and administering an effective program of locating missing participants. By staying focused on some key principles, including the adoption of sound search practices and retirement savings portability, plan sponsors can successfully navigate their near-term missing participant problems, while positioning their plan for far fewer problems in the future.