Retirement Clearinghouse in the News

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


Jul
02
2024

SECURE 2.0’s Saver’s Match: The Promise and The Challenges

Writing in 401k Specialist, RCH's Tom Hawkins takes stock of the Saver's Match program, slated to begin operation with the 2027 tax year. While research is still ongoing, Hawkins notes that the picture being revealed is one of massive potential to increase retirement savings and to help close the minority wealth gap. These benefits may not come easily, given the sheer size of the population affected by the Saver’s Match, and the challenges that the program could face in getting up-to-speed. At the Annual iOme Challenge Forum, held on 6/20/24 by the Women’s Institute for a Secure Retirement (WISER), RCH & PSN President and CEO Spencer Williams, along with Morningstar’s Jack VanDerhei, outlined both the promise and the challenges represented by the Saver’s Match.

Jul
01
2024

Upcoming Trends in Plan Design: From the Perspective of a Retiring Plan Sponsor

PLANSPONSOR's Remy Samuels reflects on the pending retirement of Carl Gagnon, assistant vice president of global financial well-being and retirement programs at Unum Group, and "[k]nown for innovative plan design ideas and offering a wide swath of benefits to his employees." In recounting his legacy of innovation, Samuels notes that Unum Group has elected to adopt auto portability, as delivered by the Portability Services Network. "We think that’s going to be extremely attractive to our new hires,” Gagnon says. “We’re trying to make it easier for our employees to consolidate their assets into one plan and into one company so they can manage it all.”

Jun
26
2024

What Optional SECURE 2.0 Provisions Are Plan Sponsors Most Likely to Adopt?

NAPA Net's Ted Godbout reports on the results of a new plan sponsor survey, conducted by Fidelity Investments "to gain a better understanding of what optional provisions of the SECURE 2.0 Act that plan sponsors are most likely to adopt." The survey found "high interest" in auto portability, a service which they expect to be a "standard offering." Godbout also writes that, "for larger plans, withdrawals for emergency expenses was replaced by auto-portability by corporate plan sponsors" and that "plan sponsors in finance and manufacturing both ranked auto-portability as a top option." The Fidelity report can be downloaded here.

Jun
25
2024

Talking Points: How to SECURE 'Better' Retirements

Writing in NAPA Net, Nevin Adams draws attention to the Saver's Match provisions of SECURE 2.0, and finds some promising information contained in the projections supplied by Morningstar's Jack VanDerhei, and survey results recently published by Boston Research Technologies (BRT) and Retirement Clearinghouse (RCH). Adams notes that Morningstar's research predicts outsized Saver's Match benefits will accrue to minorities -- but particularly to Black and Hispanic females -- while the BRT-RCH survey estimates that the Saver's Match could drive increased levels of saving among existing participants, while simultaneously increasing the participation levels of non-savers.

Jun
13
2024

The Truth About Old-School Automatic Rollovers

Writing in 401K Specialist Magazine, RCH’s Tom Hawkins takes on “old-school” automatic rollover programs which produce massive amounts of cashout leakage and strand millions of participants’ balances in safe harbor IRAs. While old-school automatic rollovers have one foot in the past, Hawkins writes: “automatic rollovers that incorporate auto portability are the way of the future, with the industry-led Portability Services Network leading the way forward.” For plan sponsors, contends Hawkins, “auto portability delivers all the plan optimization features of old-school automatic rollover programs but goes one key step further” by automatically rolling-in eligible balances for new plan participants.

Jun
06
2024

Alight Releases 2024 Global Impact Report Highlighting ESG Performance and Progress

Alight, Inc. (NYSE: ALIT), a leading cloud-based human capital and technology services provider, today published its 2024 Global Impact Report showcasing the company’s 2023 progress and future plans across its key environmental, social and governance (ESG) focus areas. In the Social Innovation portion of the report, Alight draws attention to their key role in "develop[ing] innovative solutions that address social determinants of health through expanded analytics and spearheaded the launch of the Portability Services Network (PSN) to improve retirement outcomes by promoting auto portability within the U.S. retirement system."

Jun
04
2024

Robert L. Johnson Talks Auto Portability, Racial Wealth Gap at EBRI Spring Policy Forum

Writing in 401k Specialist, Renée Wilder Guerin, RCH EVP, Public Policy, provides readers with a summary of the May 16th keynote address by Robert L. (Bob) Johnson, Chairman of The RLJ Companies, Retirement Clearinghouse (RCH) and the Portability Services Network (PSN), to the 2024 EBRI Spring Policy Forum, co-hosted by the American Benefits Council. In Johnson’s address, entitled “Helping to narrow the nation’s lingering racial wealth gap” – the legendary Black American entrepreneur gave Forum attendees insight into the businessman’s long, purpose-driven journey to create entrepreneurial solutions to social problems, including his current efforts in the retirement sector, where he’s become laser-focused on leveraging public/private sector solutions that narrow the wealth gap for minorities and women.

May
29
2024

Harness the Power of Retirement Savings Consolidation

Consolidation is a powerful force in our world, and when it comes to retirement savings, 401(k) account consolidation is inherently efficient and exerts a protective effect on retirement savings as participants change jobs. Writing in 401k Specialist, RCH's Tom Hawkins offers readers six key facts about retirement savings consolidation, providing ample evidence on the efficacy of consolidation in improving participants’ retirement outcomes.

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