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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.


Sep
07
2018

Three Unique 401(k) Hacks for National 401(k) Day

Three 401k HacksIn observance of National 401(k) Day, we’ve compiled three unique 401(k) “hacks” – simple but clever tips for managing your retirement savings more easily and efficiently.

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Aug
23
2018

Don’t Become a 401(k) DIY Horror Story

401k DIY Horror StoryWith unemployment nearing historic lows, more career opportunity inevitably translates into greater job mobility. That means that more 401(k) participants will be changing jobs and will face important decisions on what to do with their retirement savings.

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Aug
16
2018

A Tale of Two 401(k) Balance Segments

A Tale of Two 401k Balance SegmentsIt was the best of times, it was the worst of times. 

For job-changing 401(k) participants with balances greater than $15,000, it was the spring of financial wellness, as the bulk of their retirement savings would remain intact.  For less-aristocratic 401(k) savers with balances below $15,000, it was the winter of despair, as most of their savings would be lost on the cashout chopping block or forcibly exiled to a safe harbor IRA, where more savings would perish.

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Aug
09
2018

The Next Big Advancement for the 401(k)

Employee Benefit News

Although the 401(k) is today the primary retirement-savings vehicle for many hardworking Americans, it can be easy to forget that the 401(k) is still a relatively new phenomenon.

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Jul
06
2018

Auto Portability’s Role in Helping Women Save More for Retirement

Employee Benefit News

If current trends continue, approximately 104 million women will cash out almost $800 billion in retirement savings, in today’s dollars, over the next generation.

This eye-popping statistic, presented at a “Women and Retirement Income” roundtable discussion on May 22 sponsored by the Women’s Institute for a Secure Retirement (WISER), underscores the importance of financial wellness initiatives by plan sponsors to help women participants avoid cash-outs and instead preserve their 401(k) savings in the retirement system.

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May
16
2018

Encouraging 401(k) Account Consolidation is the Key to Reducing Lost & Missing Participants

Employee Benefit NewsMuch has been written recently about the preponderance of lost and missing participants. This predicament, one of the many offshoots of the problem of too many small accounts, is an urgent one for sponsors to address given reports that the Department of Labor (DOL) is focusing on their ability to locate missing participants during plan audits.

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May
10
2018

Missing Participants: An Ounce of Prevention Equals a Pound of Cure

Ben_FranklinWhen Ben Franklin coined the adage “an ounce of prevention is worth a pound of cure” he wasn’t considering the problem of missing participants, but 401(k) plan sponsors would be wise to heed Ben’s sage advice.  

Today, plan sponsors face an explosion of missing participants, driven by the ongoing adoption of auto enrollment and increasing workforce mobility.  Their problems are further compounded by the administrative burden required to locate them, combined with a regulatory minefield that offers little guidance and is prone to taking inconsistent enforcement actions.  

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Apr
17
2018

DC Plan Sponsor Priorities Should Include Plugging Leakage, Enabling Auto Portability

Employee Benefit NewsAs we continue to make our way through the second quarter of 2018, now is a good time to reflect on defined contribution (DC) plan sponsor priorities for this year.

The top priorities for these plan sponsors in 2018, outlined in December 2017 by Mercer, include:

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Mar
30
2018

Are you all-in on roll-in?  Encourage new hires to rollover old 401(k) balances into your plan

Over the past six years, there’s been a steady drumbeat pointing the way to increased portability and in-plan consolidation (“roll-ins”) as the next big strategic focus for defined contribution plans.   

While this path may soon lead to the widespread adoption of auto portability, a process that automatically rolls in small balances into a participant's new-employer plan, many plan sponsors are already embracing programs that support roll-ins for all participants, regardless of balance size.

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Mar
13
2018

New Insights into the Problem of Missing Participants

New Insights into the Problem of Missing ParticipantsToday, Boston Research Technologies (BRT) and Retirement Clearinghouse (RCH) issued a joint press release announcing the key findings from a survey examining the retirement industry’s missing participant problem.  The survey, The Mobile Workforce’s Missing Participant Problem, is the first to examine the problem from the perspective of the participant and offers unique insights into its various dimensions.

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