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Consolidation Corner Blog

Consolidation Corner is the Retirement Clearinghouse (RCH) blog, and features the latest articles and bylines from our executives, addressing important retirement savings portability topics.


Mar
23
2019

EBRI Webinar Extends Auto Portability’s Benefits to Young Millennials

EBRI LogoIn their March 20th webinar "Achieving Retirement Income Equivalency Between Final-Average-Pay Defined Benefit Plans and Automatic Enrollment 401(k) Plans in the Private Sector", the Employee Benefits Research Institute (EBRI) revealed more research that supports the case for auto portability

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Mar
11
2019

How Auto Portability Serves Participants’ Best Interests - Part 2: An Enhanced Standard of Participant Care

AP_definition_best_interestsIn this series, I identify five key reasons why an auto portability program serves the best interests of plan participants.

Previously, in Part 1, I examined the dramatically improved participant outcomes that will result from a program of auto portability.

In Part 2, I describe how auto portability, by enhancing and extending automatic rollover programs, represents an enhanced standard of care for participants.

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Feb
28
2019

5 Ways to Check if Your ARO Program Needs an Upgrade

EBN logoThe long-awaited Department of Labor (DOL) guidance on the legal and regulatory framework for auto portability has cleared the way for plan sponsors to further enhance and optimize their automatic rollover programs. By explicitly recognizing auto portability’s potential benefits to retirement savers, the DOL acknowledges that existing ARO programs have flaws which auto portability can fix.

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Feb
22
2019

How Auto Portability Serves Participants’ Best Interests, Part 1: Dramatically Improved Participant Outcomes

AP_definition_best_interestsPlan sponsors considering the adoption of auto portability must determine that, by participating in the auto portability program, they are acting prudently and solely in the interests of their plan’s participants and beneficiaries.

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Feb
13
2019

Auto Portability Boosts 401(k) Plan Results in New EBRI Research

EBRIThe Employee Benefits Research Institute (EBRI) has added yet another study to a growing body of research supporting the substantial retirement savings public policy benefits of auto portability.

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Jan
29
2019

Want to Help Minority Participants Save More for Retirement? Adopt Auto Portability

From the Top Spencer WilliamsMuch has been written about America’s retirement-savings shortfall. Much has also been written about one of the major reasons for this shortfall—the lack of technology and operating standards to make seamless plan-to-plan savings portability easy for America’s highly mobile workforce. The cumbersome and costly nature of DIY portability has made prematurely cashing out small-balance 401(k) savings accounts, or stranding them in former employers’ plans, the easiest options for many participants after they change jobs.

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Jan
22
2019

Sidecar Accounts Can Plug Some 401(k) Leakage—But Not Most Leakage

Employee Benefit News“Not having enough emergency savings for unexpected expenses” is the No. 1 financial concern for Millennials and members of Generation X, and the No. 2 financial concern among Baby Boomers, after retirement security. These findings from a PwC Employee Financial Wellness Survey released last year shouldn’t surprise members of the retirement services industry, since too many defined contribution plan participants dip into their 401(k) savings—through loans, hardship withdrawals, or cash-outs upon changing jobs—to fund emergency expenses.

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Jan
14
2019

Retirement Industry Associations Weigh in on Auto Portability

Retirement Industry Associations Weigh in on Auto PortabilityOn 11/7/18, the U.S. Department of Labor (DOL) proposed a Prohibited Transaction Exemption (PTE) for Retirement Clearinghouse’s (RCH) auto portability program, allowing for public comments by 12/24/18. On 1/7/19, after a brief delay triggered by the partial federal government shutdown, all official public comments were posted.

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Dec
20
2018

2018: A Great Year for Retirement Clearinghouse

2018_VideoAs we pause at the end of 2018 to count our blessing and to celebrate the Holidays, we at Retirement Clearinghouse (RCH) find ourselves grateful for a very successful year.

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Nov
28
2018

What is Auto Portability? It Depends on Who’s Asking.

AP_definitionWith the announcement of the Department of Labor’s recent actions, auto portability has taken center stage in the retirement industry. While auto portability has been well-known to a relatively small group of industry insiders, its recent, widespread coverage in the media has many asking the question “what is auto portability?”

With so many different -- and important -- perspectives on the matter, the best answer will depend on who’s asking the question. 

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