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Auto Portability - Public Policy
Learn more about retirement savings public policy positions related to Auto Portability.
In his 1/8/18 article in the Journal of Accountancy, Lou Carlozo examines auto portability, which has the potential to "impact the retirement plans of millions for the better." Carlozo details the progress auto portability is making with the Department of Labor, referencing the July 2017 letter from Senate Republicans. Carlozo extensively quotes RCH President & CEO Spencer Williams, as well as other industry experts, on the positive outlook for auto portability and its potential for solving the 401(k) "leakage" problem.
Great all by itself, auto portability also makes other retirement savings public policy initiatives a lot better.
The American Benefits Council delivered a letter to the Department of Labor (DoL), urging the DoL to act on the problem of unresponsive or missing participants.
PLANSPONSOR's Rebecca Moore reports on the letter from US Senator Tim Scott, urging Labor Secretary Alexander Acosta to provide guidance on auto portability "as soon as possible."
Robert L. Johnson applauds U.S. Senator Tim Scott (R-SC) and ten Republican U.S. Senators for their letter urging U.S. Department of Labor Secretary R. Alexander Acosta to increase retirement savings opportunities for minority and working class Americans
NAPA Net's Ted Gobbout reports that U.S. Sen. Tim Scott (R-S.C.) will deliver a letter to Labor Secretary Alexander Acosta, urging DOL guidance on auto portability.
In a 7/5/17 article in BenefitsPRO, RCH's Tom Hawkins makes the case that 401(k) cashout leakage should be plugged, prior to expanding access to workplace retirement savings accounts.