Thought Leadership

Michael Kreps of Groom Law: Cool Things You Might Not Know

In her ongoing Thought Leadership series, Lisa Massena of Massena Associates interviews Groom Law Group's retirement public policy expert Michael Kreps to identify next level, breaking policy matters that industry followers should be paying attention to. During the 1-on-1 conversation, Kreps singles out auto portability as "a really cool thing" that he believes "is the most important thing that is happening right now." Auto portability, explains Kreps, addresses a "lack of infrastructure" that preserves retirement savings and results in having "money follow you from plan A to your new plan B."

Vanguard moves to automatically transfer small 401(k) balances

Writing in MarketWatch, Alicia Munnell, Director of the Center for Retirement Research at Boston College celebrates the news that Vanguard will offer RCH Auto Portability to their plan sponsor clients and participants, stating: "[t]his is a win for Vanguard and its customers, for Retirement Clearinghouse, which has been working on this project for many years, and for the retirement system as a whole" -- adding "[t]his initiative should dramatically reduce leakages and increase 401(k) balances." An astute observer of trends in the retirement sector, Munnell recounts the history of auto portability, from inception to regulatory approvals to its present state, where recordkeepers are now confidently adopting the financial technology. Munnell closes her piece writing: "it is lovely to see a win for the 401(k) system."

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A leap forward for auto portability

Greg Long, industry thought leader and head of Alight Solutions' head of Public Policy & Defined Contribution Public Sector, takes to LinkedIn to provide his viewpoint on auto portability. Citing another major recordkeeper's announcement that it's joining the RCH auto portability network, Long takes stock of that positive development, and uses it to advocate for making auto portability "the standard for all small, terminated accounts."

Want to Avoid Legal Jeopardy? Adopt Solutions That Enable Portability for Small Accounts

Writing in Benefits Quarterly magazine, RCH founder, president and CEO Spencer Williams examines the multi-faceted problem of "small accounts" and describes how plan sponsors, providers and recordkeepers can take proactive measures to solve the problem by adopting auto portability. By adopting auto portability, Williams contends that the improved outcomes for participants could "mitigate the risk of 401(k) fee lawsuits and other legal actions down the line."

Portability on Steroids: Let’s See It! – Part Two

In part 2 of their 2-part interview, RCH’s Spencer Williams continues to discuss auto portability with Lisa Massena, Founder of Massena Associates. In part 2, Williams turns to the importance of Alight Solutions (the first large recordkeeper who has adopted auto portability), touches on a range of views on auto portability from within the DC Beltway, and offers his insight on broader issues, including the overall level of retirement savings coverage.

Portability on Steroids: Let’s See It!

In part 1 of their 2-part interview, RCH’s Founder, President & CEO Spencer Williams takes on the topic of auto portability with Lisa Massena, Founder of Massena Associates and publisher of the Retirement Security Matters newsletter. In part 1, their conversation highlights the fundamental dynamics driving the need for auto portability and offers readers a primer on how auto portability works.

Consolidating the Gains from a Program of Retirement Savings Portability

Following on to the 2013 study by Boston Research Group (now Boston Research Technologies), a new study released by Retirement Clearinghouse (RCH) revisits a mega plan sponsor’s ongoing experience with a program of 401(k) retirement savings portability, and finds that not only have the benefits of the original program persisted, they’ve grown, with plan participants continuing to realize significant, measurable benefits.

New Research on Locating Missing Participants Augments DOL Guidance

On 1/26/21, Retirement Clearinghouse (RCH) released a study that advances the art and science of locating missing 401(k) plan participants. The study – Improving the Effectiveness of Electronic Missing Participant Searches – comes on the heels of U.S. Department of Labor (DOL) guidance on the topic and is highly-useful for plan sponsors who utilize electronic searches, or “e-Searches” -- as they are referenced in the study.