Retirement Clearinghouse in the News

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


Jul
28
2023

With Eye on IRAs, Vanguard Expands Relationship with Retirement Clearinghouse

401k Specialist Editor-in-Chief Brian Anderson, reports on Vanguard's announcement of an expanded collaboration with Retirement Clearinghouse (RCH) that will reconnect IRA accountholders with retirement funds they may have lost or forgotten. The initiative extends the existing relationship with RCH, which launched in 2021, as the two companies have collaborated to prepare an auto-portability service to 401(k) plan sponsors and their participants.

Jul
28
2023

Helping IRA account holders maximize their retirement savings

To help more investors stay on track with their retirement goals, Vanguard and Retirement Clearinghouse, LLC (RCH) are expanding their relationship to include services to IRA accountholders. Since 2021, the two companies have collaborated as they prepare to provide auto portability services to 401(k) plan sponsors and their participants. We will now be working to help investors reconnect with small balance rollover IRAs they may have lost track of.

Jul
21
2023

Auto-Portability, Step by Step

PLANSPONSOR's Ed McCarthy takes a deep dive, step-by-step examination of auto portability as delivered by the Portability Services Network (PSN), which accounts for 63% of the defined contribution market, and which McCarthy notes, is "picking up steam." For details, McCarthy turns to RCH's Spencer Williams and Neal Ringquist, who opine on the technical details, while Vanguard's Steve Holman, a PSN Board member, offers the recordkeeping view.
Also featured in PlanAdviser.

Jul
10
2023

Auto-Portability Solutions Show Signs of Growth

The PLANSPONSOR writing team of Natalie Lin and Remy Samuels tackle a big development in the DC recordkeeping world, when on 7/6/23, Principal announced that it was joining with the Portability Services Network (PSN), an industry-led utility dedicated to the adoption of auto portability. The pair writes: "[t]he addition of Principal means the country’s five largest recordkeepers by assets are now part of the network, with Principal joining Fidelity Investments, Empower, Vanguard and Alight Solutions, according to the latest ranking by PLANSPONSOR."

Jul
06
2023

Principal Becomes 6th Recordkeeper to Join Portability Services Network

401k Specialist Editor-in-Chief Brian Anderson covers the 7/6/23 announcement by Principal that it has joined the Portability Services Network -- a "consortium of retirement plan service providers focused on helping America’s under-served and under-saved workers improve their retirement outcomes by making it easier to transfer their workplace retirement accounts when changing employers." With the move, reports Anderson, "Principal becomes a board member and one of seven owning members of PSN, which utilizes the auto-portability solution created by Retirement Clearinghouse."

Jul
06
2023

Fintech Friday: Auto-Portability Continues to Gain Traction

NAPA Net's John Sullivan notes that "the movement to auto-portability continued to grow" as Principal announced it had joined with 5 other large recordkeepers and Retirement Clearinghouse (RCH), becoming one of the seven owning members of the Portability Services Network (PSN), launched in October 2022. In his piece, Sullivan quotes Robert Johnson, RCH and PSN chairman, who lauds Principal's "leadership, action, and progress to increase financial access and inclusion [that] will help more people benefit from auto-portability – in particular people of color, lower-income workers, and women, who have higher than average cash-out rates.”

Jul
06
2023

Principal Joins Portability Services Network

PlanAdviser's Natalie Lin breaks down the 7/6/23 announcement by Principal that it has joined the Portability Services Network (PSN), "a consortium of retirement plan service providers seeking to help workers with lower balances transfer their workplace retirement accounts when changing employers." Lin notes that "[t]he addition of Principal means the country’s five largest recordkeepers by assets are now part of the network."

Jul
06
2023

PRESS RELEASE: Principal® joins industry consortium to support automatic portability of U.S. retirement accounts

(DES MOINES, Iowa) – Principal Financial Group® today announced it joined the Portability Services Network, LLC (PSN), a consortium of retirement plan service providers focused on helping America's under-served and under-saved workers improve their retirement outcomes by making it easier to transfer their workplace retirement accounts when changing employers. Principal® is a board member and one of seven owning members of PSN, which utilizes the auto portability solution created by Retirement Clearinghouse, LLC (RCH).

Read the entire press release here.

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