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Retirement Clearinghouse in the News

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

Aug
08
2018

ASSPA Net Reviews RCH Article on 401(k) Cashouts, Missing Participants

On 8/8/18, ASSPA Net's John Iekel reviews the 7/26/18 article in BenefitsPRO by RCH's Tom Hawkins, which draws a comparison between 401(k) missing participants and cashouts. In making the argument that 401(k) cashouts could be "orders-of-magnitude worse" than missing participants, Iekel summarizes Hawkins' logic, including: 1) missing participants have preserved their savings, 2) participants cashing out are far more numerous than those going missing and 3) almost two-thirds of cashouts are unnecessary. Hawkins' answer to address both problems, says Iekel, is the "introduction of auto-portability."

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Aug
03
2018

NAPA Net Readers Identify RCH as Solution to Missing Participant Problem

In an online poll of readers, NAPA Net's Editor-in-Chief Nevin Adams reports that Retirement Clearinghouse (RCH) was identified by respondents as an effective solution to address plans' missing participant problems. The results, which were published on the NAPA Net website on 8/3/18, showed that nearly a third of plan sponsor clients (32%) identified missing participants as a key issue, and that RCH's services were cited multiple times by respondents as delivering significant value in helping plan sponsors locate missing participants.

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Aug
02
2018

RCH in WISER: Understanding & Solving the Problem of Women's 401(k) Cashout Leakage

The Women's Institute for a Secure Retirement (WISER) features a guest article by RCH's Tom Hawkins, showcasing research presented at a 5/22/18 WISER forum, indicating that women with small 401(k) balances cash out more frequently than their male counterparts. As women’s 401(k) balances grow, they become more likely than men to preserve their retirement savings. These behaviors, along with the results of the Auto Portability Simulation, suggest that a program of retirement savings portability could incubate women’s small 401(k) balances, allowing them to more effectively grow their savings to higher balance levels, where more beneficial behaviors can prevail.

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Jul
26
2018

RCH in BenefitsPRO: 401(k) Truth Bomb: Missing Participants are Bad, 401(k) Cashouts are Worse

In his 7/26/18 article in BenefitsPRO, RCH's Tom Hawkins addresses the dual problems of missing participants and 401(k) cashouts, which both share common causes – a mobile American workforce and a lack of retirement savings portability. While missing participants are bad and have been receiving a great deal of attention, the issue of 401(k) cashouts is actually much worse, as annual cashouts outpace new missing participant accounts by a factor of almost 25-to-1. Fortunately, retirement savings portability, in the form of auto portability, delivers a “two-fer” by providing a strategic solution to both.

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Jul
19
2018

401k Specialist Features Recent Retirement Savings Portability Developments

401k Specialist features a July 2018 article by RCH's Tom Hawkins, addressing recent public policy activities on the issue of retirement savings portability. In his article, Hawkins examines three developments, all taking place in late June, and looks ahead to the anticipated delivery of an Advisory Opinion by the Department of Labor on auto portability.

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Jul
06
2018

RCH in EBN: Is auto-portability the key to helping women save more in retirement?

Auto portability has become a leading retirement savings public policy initiative due to its proven ability to preserve small-balance defined contribution accounts. RCH CEO Spencer Williams summarizes new research indicating that, when it comes to women, auto portability could deliver even greater benefits by making it easier for women participants to preserve their 401(k) savings, helping put them on par with men to achieve financial wellness.

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Jun
26
2018

RCH in BenefitsPRO: Avoid Becoming 'Collateral Damage' in a Cyberattack

In his article in BenefitsPRO, RCH Chief Information Officer Mike Goode advises benefits professionals to consider how they can protect their company's data by better understanding and managing the risk associated with engaging retirement services providers. Goode cites the growing threat posed by cyberattacks on third parties, and offers a five-step solution for minimizing the risks.

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Jun
25
2018

RCH in EBN: The hidden DC plan sponsor priority: Plugging leakage, enabling auto-portability

In his latest article in Employee Benefit News, RCH Founder, President & CEO Spencer Williams urges plan sponsors to adopt two critical, but often overlooked priorities for defined contribution plans: reducing cashout leakage and enabling auto portability. Today, plan-to-plan portability is both time-consuming and expensive, resulting in a large number of stranded accounts and cashout leakage, particularly for small accounts. Citing EBRI and other research, Williams demonstrates that enabling seamless plan-to-plan portability through auto portability could dramatically improve participant outcomes, enhance financial wellness and even reduce the incidence of missing participants.

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