Thought Leadership

Graff’s Path: The ARA CEO on Bipartisanship, the Coverage Gap and What’s Next for the Organization

To mark the 25th anniversary of his tenure, Brian Graff, CEO of the prestigious American Retirement Association (ARA) sat down with 401k Specialist Editor-in-Chief John Sullivan to discuss a range of topics, including the organization's history of effectively influencing retirement legislation. During the interview, the pair turned to the important topic of addressing 401(k) cashout leakage, where Graff voiced his clear view that auto portability represents the best approach to solving the problem.

Exclusive Interview: Spencer Williams Says Post Separation Leakage “A Huge Problem”

Fiduciary News' Chris Carosa conducts a wide-ranging interview of RCH President & CEO Spencer Williams, gaining Williams' insights on America's 401(k) system, including how he is solving the problem of 401(k) cashout leakage via the RCH Auto Portability program. In the interview, Carosa covers a range of topics, including Williams' background and formative career experiences, the state of the 401(k) system, and of course, specifics about the RCH Auto Portability program and how it will have a positive impact on participants, plan sponsors and providers.

*Registration required

Sen. Tim Scott Releases Report on Retirement Security and Features Auto Portability

On 10/28/21 Sen. Tim Scott (R-SC), Ranking Member of the U.S. Special Committee on Aging, released a report entitled The American Dream in our Golden Years: Improving Retirement Security and Building Independence, which addressed the issues, challenges and "solutions for the future to help millions of Americans save for retirement and enjoy their golden years." Scott's paper singled out auto portability as one of those solutions, having "opened the door for millions of Americans to start setting money aside for retirement."

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."

Also featured by TD Ameritrade and Morningstar

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.