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Retirement Clearinghouse in the News
Find news articles referencing RCH and our services, including Auto Portability
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.
One Simple Trick to Radically Boost Financial Wellness
In an opinion piece for 401k Specialist Magazine, RCH's Tom Hawkins offers 401(k) plan sponsors "one simple trick" -- retirement savings portability -- to radically boost their participants' financial wellness. In the article, Hawkins asserts that "adopting a program of retirement savings portability has never been easier" and the measurable benefits accrue not only to participants, but to the plan, to the retirement system, and even to retirement savings public policy initiatives.
Robert L. Johnson Addresses Auto Portability on CNBC's Squawk Box
On 2/16/21, RLJ Companies Chairman and RCH majority owner Robert L. Johnson appears on CNBC's Squawk Box for a wide-ranging interview. During Q&A with host Joe Kernen, Mr. Johnson addresses his ongoing efforts to promote retirement security for minorities via RCH's auto portability initiative, which he indicates would preserve over $180 billion in retirement savings for Black Americans.
Nudge theory can help strengthen financial wellness initiatives
In his latest article in Employee Benefit News, RCH President & CEO Spencer Williams examines the applicability of “nudge theory” by plan sponsors to promote 401(k) account consolidation and to discourage premature cashouts. Nudges, which are “easy and cheap” interventions, could include simple and subtle messages to participants that Williams asserts “can make a big difference to the retirement preparedness, and overall financial health, of their plan participants.”
Alight 2020 Hot Topics: Most Employers Interested in Auto Portability
In their survey Hot Topics in Retirement and Financial Wellbeing 2021, Alight Solutions finds that "the majority of employers are interested in a clearinghouse service that will automatically roll balances from one employer’s DC plan to another employer’s plan when individuals change jobs."
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