On 9/7/16, the Bipartisan Policy Center presented testimony to the Senate Committee on Aging regarding the BPC's recent report "Securing Our Financial Future." Included in the testimony (video link and written testimony) is a recommendation to establish a private-sector "retirement security clearinghouse" to facilitate retirement savings consolidation.
In his testimony, former Senator Kent Conrad (D-ND), said: “And finally, we recommend the creation of a Retirement Security Clearinghouse to ease the process of consolidating retirement plans. Let me just say, after leaving the Senate, one of things I did was turn some attention to our own financial situation…my wife’s and mine. And what I found is that I’ve got accounts here…drib-drab…over here…you know, a little account over there. Most Americans face the same thing, and it would be a tremendous advantage if we were able to consolidate these plans.”Back