Retirement Clearinghouse in the News

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


Jul
14
2021

Pressure Mounts to Reunite Workers With Old Retirement Accounts

Bloomberg Law reporter Austin Ramsey addresses recent pressure on the federal government to reconnect retirement plan participants with their benefits, including the possible establishment of a retirement savings lost & found. For clarity, Ramsey turns to two experts -- Alicia Munnell, director of the Center for Retirement Research at Boston College, and RCH President & CEO Spencer Williams. Munnell's views underscore the need for consolidation and cites RCH's program of auto portability. Williams then provides Ramsey with an update on RCH's auto portability program, stating that any lost & found "must involve the private sector."

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Jul
13
2021

Baby Boomers Can Grow Their Retirement Savings Quickly in 10 Simple Ways

Writing in MSN Money, Journalist Cameron Huddleston speaks with industry experts to identify tips for how Baby Boomers can catch up on retirement savings, and turns to RCH Executive Vice President Neal Ringquist for advice. Ringquist suggests that Boomers leverage their retirement savings accounts not only to accumulate savings for retirement, but to effectively manage tax burdens as well.

Jul
06
2021

New Data Proves Effectiveness of 401k Auto-Portability

Writing in 401k Specialist, RCH’s Tom Hawkins examines new data collected from a large plan sponsor who’s implemented auto portability’s key technology components, but requires affirmative consent from participants in order to consolidate their balances. The data reveals resounding success in the location of active plan accounts, in obtaining participant consent and in executing automated roll-ins -- all of which augur well for the future of auto portability and for consolidation of larger balances.

Jun
16
2021

DC industry must cooperate to resolve forgotten-accounts problem

Writing in InvestmentNews, contributor Fred Barstein addresses the issue of forgotten accounts, and turns to RCH President & CEO Spencer Williams for his views. Barstein writes "[w]hat is needed is a network of DC record keepers that share account information" and notes that Williams and RCH have been working on developing that "for more than a decade." Barstein quotes Williams, who states "no one argues against portability" while adding that "the network is the endgame" and requires "critical mass [to be successful]."

Jun
15
2021

401k Retirement Savings: More Gone Than Forgotten

Writing in 401k Specialist, Tom Hawkins compares & contrasts the issue of ‘forgotten’ 401(k) accounts to its more problematic relative, 401(k) cashout leakage. In the piece, Hawkins takes the position that recent attention given forgotten accounts – via draft SECURE 2.0 legislation and the release of a drama-laden white paper – have created the mistaken impression that there’s a massive problem with forgotten 401(k) accounts, when in fact ‘forgotten’ 401(k) accounts are dwarfed by 401(k) cashout leakage, in terms of both their size and severity.

Jun
04
2021

The Strong Case for a Retirement Savings ‘Lost and Found’

Writing in 401k Specialist Magazine, RCH's Tom Hawkins takes a deep dive into draft SECURE 2.0 provisions that dramatically expand the purpose, scope and scale of a Retirement Savings Lost & Found. Hawkins contends that the new provisions, as currently written, would create a massive, government-run repository of micro-balance accounts costing taxpayers millions, while failing to boost retirement security. Hawkins encourages Congress to return to an earlier Lost & Found model, while addressing the broader, small-balance account problem through policies that incentivize the adoption of auto portability.

Jun
03
2021

More Than a Trillion Dollars Stuck in ‘Forgotten’ 401ks

Writing in 401k Specialist, Brian Anderson covers the release of a white paper from Capitalize, a new fintech firm that suggests that the problem of "forgotten" 401(k) accounts can be fully-addressed by offering "portability" to an IRA. After touching on the white paper's key findings, which borrow liberally from earlier RCH research, Anderson observes that the "problem is also being addressed by auto portability" by "moving them forward within the defined contribution system following job separations."

Jun
02
2021

Auto portability can help 401(k) participants better prepare for retirement

In his latest article in Employee Benefit News, RCH President & CEO Spencer Williams addresses the dilemma facing employers, who are committed to promoting their employees’ financial wellness, but also confront the grim reality of excessive retirement savings leakage, exacerbated by the COVID-19 pandemic. By adopting auto portability, Williams asserts that plan sponsors can utilize "comprehensive benchmarks" that can “easily quantify their financial wellness efforts” while simultaneously meeting their fiduciary responsibilities.

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