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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.


Oct
13
2017

Bringing Clarity to the Murky Problem of Missing Participants

The Murkey Problem of Missing ParticipantsOn October 2nd, 2017, the American Benefits Council delivered a letter to the Department of Labor (DoL), urging the DoL to act on the problem of unresponsive or missing participants, an issue that has proven to be a significant point-of-pain for plan sponsors.

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Oct
05
2017

‘May Day, May Day’: Locate your plan’s lost & missing participants before it’s too late

Employee Benefit NewsThe recent hacking of Equifax, which potentially compromised the security of sensitive information for 143 million Americans, doesn’t just reinforce the importance of cybersecurity. This cyberattack also makes a compelling case for the widespread adoption of auto portability.

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Sep
18
2017

The Explosion of Small 401(k) Accounts

Small 401K Account ProblemsIt’s generally accepted that the small-balance accounts of terminated 401(k) plan participants have been a problem for plan sponsors, resulting in increased plan costs, fiduciary risk and other ancillary problems, such as missing participants and uncashed distribution checks.

Now, based on new information from EBRI and other sources, we’re learning that small accounts are a large and growing problem for active participants as well.

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Aug
30
2017

The Exit Bonus Employers Never Intended to Pay

Employee Benefit NewsWithout seamless plan-to-plan portability in place to preserve retirement savings when a participant changes jobs, many employers are unwittingly paying “exit bonuses” to terminated employees that they may never have intended to pay.

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Aug
09
2017

Small Accounts: The Root of Many Problems

Employee Benefit NewsIf you’re like most homeowners during these dog days of summer, you’re not just basking in the sunshine or swimming in the pool with your family. You also have a fight on your hands—the war against the dandelions that invade and attempt to occupy your entire lawn every year at this time.

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Jul
05
2017

Rising Healthcare Costs Necessitate Healthy Retirement-Saving Habits

Employee Benefit NewsIf you think of retirement savings as a key part of a healthy retirement, then anyone who has prematurely cashed out 401(k) savings during their working life has suffered a compound fracture that will require several stages of therapy to fully rehabilitate. But a cash-out isn’t the only impediment to a financially secure retirement for these hardworking Americans.

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May
22
2017

The Rallying Cry for Improving Financial Wellness: ‘Eradicate Cash-Out Leakage In Our Time!’

Employee Benefit NewsHalf a century ago, the global medical community united to wipe out smallpox, an infectious disease that afflicted mankind for millennia. In 1966, the World Health Organization (WHO) established the Smallpox Eradication Programme, which sent Western doctors to vaccinate the populations of nations and communities around the globe where smallpox was still rampant. No place where smallpox cases had been reported, or where the local population was not vaccinated, was overlooked by WHO medical teams, no matter how remote the village or how dangerous the journey.

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May
04
2017

80th EBRI Policy Forum to Address Key Retirement Policy Issues

Employee Benefit Research Insititute EBRIOn Thursday, May 11th, the Employee Benefit Research Institute (EBRI) will conduct their 80th Policy Forum, sponsored by the EBRI Education and Research Fund (ERF). Hosted at the 20 F Street, NW Conference Center, the Forum is scheduled from 8:30am to 12:30pm.

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Apr
26
2017

Automatic Cash-Outs Undermine Efforts to Enhance Financial Wellness

Employee Benefit NewsIn the spirit of Financial Literacy Month, retirement plan sponsors are to be commended for their commitment to enhance financial wellness among participants. In fact, 76% of employers offer financial health programs for employees, according to the seventh annual survey on corporate health and well-being conducted by Fidelity Investments and the National Business Group on Health® in 2016.

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Apr
19
2017

New EBRI Research Finds $2T Saved From Automated Portability

Portability Sponsors EBRI FSR, RCH, WISER

As much as $2 trillion could be retained in the U.S. retirement systems if Auto Portability were fully implemented, according to new research by the Employee Benefit Research Institute (EBRI). The research establishes Auto Portability as a leading retirement industry public policy initiative, placing it ahead of auto IRA initiatives and just behind universal DC coverage in terms of impact on total retirement savings shortfall.

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