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Retirement Clearinghouse in the News

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

Jul
14
2020

Changing jobs? Soon you can transfer 401(k) savings automatically

CNBC Senior Personal Finance Correspondent Sharon Epperson follows on to her morning video segment on CNBC with an article addressing today's key developments for auto portability. Epperson quotes Alight EVP Alison Borland, RLJ Companies Founder & Chairman Bob Johnson and the ARA's Nevin Adams in the piece, and cites key research from Alight on cashout leakage from job-changing participants.

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Jul
14
2020

Advancing the Opportunity Agenda: Make 401(k)s More Portable

James Bacon, writing for the Virginia-based Bacon's Rebellion blog, examines today's announcement that Alight Solutions will offer the RCH auto portability service to its clients, and finds a lot to like. Bacon praises the initiative for its benefits for African-Americans "and for that matter, all Americans" -- citing statistics provided by RCH majority owner Robert L. Johnson. Bacon believes that auto portability fits squarely into a private sector-driven "opportunity agenda" framework that will advance economic gains.

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Jul
14
2020

CNBC: How Retirement Clearinghouse is helping employees save for retirement

Appearing on CNBC's Squawk Box, RLJ Companies Founder & Chairman Robert L. Johnson and Alight Solutions EVP Alison Borland jointly address breaking news that Alight Solutions will offer the Retirement Clearinghouse (RCH) auto portability service to its 401(k) recordkeeping clients. Borland noted that "client reaction has been overwhelmingly positive" and that "we expect high adoption and we expect this change in the industry to be able to happen much faster than automatic enrollment happened."

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Jul
14
2020

Video: It can be easier to carry 401(k) plans over to a new job—Here’s how

Featured on Squawk Box, CNBC's Senior Personal Finance Correspondent Sharon Epperson reports the news that Alight Solutions LLC is adopting Retirement Clearinghouse's auto portability solution for its 401(k) recordkeeping clients. Epperson sets the stage for the news by citing research supporting the case for auto portability. Epperson's report was quickly followed by an interview with RLJ Companies Founder & Chairman Robert L. Johnson and Alight Solutions EVP Alison Borland.

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Jun
24
2020

Institutionalized 401(k) portability needed now more than ever

Writing for BenefitsPRO, RCH President & CEO Spencer Williams examines the retirement-related circumstances brought about by the COVID-19 crisis, and sets forth a persuasive argument for the systemic adoption, or "institutionalization" of auto portability. By more-effectively coping with large numbers of terminated participants, auto portability will help reduce unnecessary cashouts, including "automatic" cashouts under $1,000, which Williams advises sponsors to avoid completely. During the crisis, when reduced mobility is the norm, Williams further advises sponsors to conduct participant searches to ensure that records are kept up-to-date.

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Jun
20
2020

401k Cashout Leakage is Real, Not a ‘Narrative’

In his latest article in 401k Specialist, RCH's Tom Hawkins provides his take on the topic of 401(k) cashout leakage, examining a recent study by the Investment Company Institute (ICI). Hawkins writes that the ICI study -- while using an innovative approach to mine 2010 tax data -- fell short in providing accurate or timely estimates of 401(k) cashout leakage levels, which are best-reflected in research conducted by EBRI and by large recordkeepers, and recently compiled by the Savings Preservation Working Group.

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Jun
16
2020

Wellness Benefits Gaining Acceptance and Respect

Writing for 401kTV, Steff Chalk, Executive Director of The Retirement Advisor University, describes the growing employer acceptance of wellness benefits, as they become more readily measurable. Chalk extensively quotes an article previously authored by RCH's Spencer Williams in Employee Benefit News, where Williams itemizes the many real, quantifiable and positive impacts of auto portability on participants' financial wellness.

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Jun
10
2020

Without auto portability, terminated employees will miss out on retirement funds

Writing in Employee Benefits News, RCH President & CEO Spencer Williams examines the disruptive effects of the COVID-19 pandemic on America's retirement savers, and makes a persuasive case for the systemic, institutional adoption of auto portability as a means to help rebuild and to preserve retirement savings over the long-term. In the near-term, Williams observes that reduced participant mobility make this an opportune time for sponsors to update participant addresses.

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