Consolidation Corner

Michael Wilder

As Retirement Clearinghouse’s Vice President of Client Services, Mike Wilder is responsible for all TPA, Recordkeeper and financial advisory relationships as well as overseeing RCH SponsorServicesSM, the dedicated, expert support services team for plan sponsors, acting as the single point-of-contact between the company and plan sponsors during all phases of operations, including initial plan on-boarding and ongoing, day-to-day activities. Wilder brings over 25 years of experience in sales and relationship management, and has been with RCH since 2004. Wilder earned his B.S. in Communications from East Tennessee State University and is a registered Series 99 Operations Professional.
Find me on:

Recent Posts

The Results Are In: Auto Portability is a Winner!

Posted by Michael Wilder on Nov 15, 2017 8:09:58 AM


On November 7th, Retirement Clearinghouse (RCH) issued a press release announcing the results of the first-ever implementation of auto portability, as evaluated by Boston Research Technologies (BRT)’s Warren Cormier in his just-published white paper “Making the Right Choice the Easiest Choice: Eliminating Friction and Leaks in America’s Defined Contribution System.”

Those of us who have worked diligently to bring auto portability to fruition have intuitively known it’s value in preserving small-balance retirement savings. Still, it was highly gratifying to have this view confirmed by the analysis presented in BRT’s white paper.

Auto Portability’s First Implementation

Read More

Topics: Auto Portability, Safe Harbor IRA, Automatic Rollovers, Boston Research Technologies, Automatic Roll-In, Locate & Match

DC Plan Termination Video Series Part 3: Five Criteria for Selecting a Services Provider

Posted by Michael Wilder on Feb 25, 2016 10:30:00 AM

Retirement Clearinghouse (RCH) is pleased to offer a three-part series of educational videos on plan terminations, presented by Mike Wilder, RCH’s Vice President of Client Services. These videos are intended to provide plan sponsors with a basic understanding of key plan termination process steps, the common mistakes that are made by plan sponsors, and the key criteria for selecting a plan termination services provider. We hope you’ll find these videos interesting & informative!    

 

 
 
 
 
 
 
 
Share0

 

 

DC Plan Termination - Five Criteria for Selecting a Services Provider

Terminating a retirement plan takes a lot of work, a lot of planning and requires specialized skills.  Not surprisingly, most fiduciaries choose to outsource plan terminations to service providers.

Selecting an outsourced provider is a critical decision. To help simplify the process we suggest using the five criteria below.

 

Read More

Topics: Safe Harbor IRA, Automatic Rollovers, How-To, Plan Termination, Video

DC Plan Termination Video Series Part 2: Common Mistakes Plan Sponsors Make

Posted by Michael Wilder on Feb 19, 2016 12:57:09 PM

Retirement Clearinghouse (RCH) is pleased to offer a three-part series of educational videos on plan terminations, presented by Mike Wilder, RCH’s Vice President of Client Services. These videos are intended to provide plan sponsors with a basic understanding of key plan termination process steps, the common mistakes that are made by plan sponsors, and the key criteria for selecting a plan termination services provider. We hope you’ll find these videos interesting & informative! 

 

For more information, contact a Retirement Clearinghouse sales representative at sales@RCH1.com, or call us at (866) 827-9608.


 

 
 
 
 
 
 
 
Share0

 

DC Plan Termination - Common Mistakes Plan Sponsors Make

 

Terminating a retirement plan is complicated. The importance of having a well thought out plan in place before beginning the plan termination process is imperative, because making mistakes can be costly. To better understand why plan sponsors were making mistakes in qualified plan terminations the IRS Employee Plans Compliance Unit conducted a “Termination Project” in 2011. Over 75% of the sampled sponsors made errors!

 

 

So what kind of errors did plan sponsors make?

Read More

Topics: Safe Harbor IRA, Automatic Rollovers, How-To, Plan Termination, Common Mistakes, Video

DC Plan Termination Video Series Part 1: 1 Project, 5 Phases

Posted by Michael Wilder on Feb 12, 2016 2:31:56 PM

Retirement Clearinghouse (RCH) is pleased to offer the first educational video of a three-part series on DC plan terminations, presented by Mike Wilder, RCH’s Vice President of Client Services. These videos are intended to provide plan sponsors with a basic understanding of key plan termination process steps, the common mistakes that are made by plan sponsors, and the key criteria for selecting a plan termination services provider. We hope you’ll find these videos interesting & informative!    

 

For more information, contact a Retirement Clearinghouse sales representative at sales@RCH1.com, or call us at (866) 827-9608.


 

 
 
 
 
 
 
 
Share0

 

DC Plan Termination – 1 Project, 5 Phases

 

Terminating a retirement plan can be daunting. There is a lot to do and if it’s not done correctly, it will generate even more “to dos”. To minimize the sense of being overwhelmed break down a plan termination into five smaller phases.

 

 

Phase 1: Planning & Preparation

As with any project, good planning usually leads to good results. After the project is planned and the timeline is established, the first thing to do is amend the retirement plan. Things to remember in the plan amendment:

  • Establish a plan termination date
  • Include all changes in the law or plan qualifications that will be effective on the termination date
  • Cease plan contributions
  • Provide full vesting of benefits for all affected employees
  • Authorize distribution of all benefits in accordance with plan terms as soon as administratively feasible

Read More

Topics: Safe Harbor IRA, Automatic Rollovers, How-To, Plan Termination, Video

Deadlines for Year-End Plan Terminations, Mandatory Distributions Fast Approaching

Posted by Michael Wilder on Sep 21, 2015 11:25:00 AM

At Retirement Clearinghouse (RCH), the 4th quarter is the busiest time of the year, as many plan sponsors look to complete plan terminations and mandatory distributions before the end of the year. However, to follow appropriate communication timeframes, deadlines to initiate the necessary communications process needed to complete these year-end plan initiatives are fast approaching.

Read More

Topics: Mandatory Distributions, Automatic Rollovers, Plan Termination

Reducing the Burden of Missing Participants

Posted by Michael Wilder on Aug 19, 2015 9:26:00 AM

Whenever I am meeting with a plan sponsor, TPA or recordkeeper for the first time, I ask about returned mail related to missing participants; and almost every time I get…“the look”. The look and/or eye roll that instantly says that returned mail is definitely a problem. The entire retirement industry is all-too-familiar with returned mail related to missing participants. In addition to the money wasted on materials and mailing costs, missing participants create administrative burdens and increase the plan’s fiduciary liability risk.  So, what’s a fiduciary to do?

 

Be proactive

Issue reminders to participants asking them to review and/or update their address on file. According to the US Census Bureau, 12% of Americans moved each year from 2008-2014; and let’s be honest, the retirement plan provider is usually way at the bottom of the priority list regarding an address change notification. Some ways to be proactive include:

 

Read More

Topics: Safe Harbor IRA, Automatic Rollovers, Missing Participants, Lost Participants

Click Here To View RCH's Upcoming Events!

Consolidation Corner

Don't get left behind!!

Be sure to sign up to receive our emails keeping you up to date on all of the latest industry news, events and articles featuring Retirement Clearinghouse!

Click Here To Download  BRT's Executive Summary  on the Mobile Workforce

Subscribe to Email Updates

Recent Posts