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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.


Apr
15
2019

How Auto Portability Serves Participants’ Best Interests - Part 3: Auto Portability Could Lower Plan Expenses

AP_definition_best_interestsIn this five-part 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 described how auto portability, by enhancing and extending automatic rollover programs, represents an enhanced standard of participant care.

In Part 3, I present evidence that the adoption of auto portability could lead to a reduction in plan expenses.

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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
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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Sep
27
2018

Pairing 401(k) Savings Preservation and Expanded Access for America’s Minorities

092718 Blog Inline ImageOver the past few years, we’ve written extensively about auto portability -- what it is, how it works and the significant, positive impact it will have on the retirement security of working Americans.  Our positions have been supported by research, predictive models (including EBRI’s RSPM) and real-world results from the initial implementation of auto portability.

In this article, we address an important retirement public policy question: How would a pairing of auto portability with open multiple employer plans (or “open MEPs”) impact the retirement savings of America’s minorities, and particularly, African-Americans?

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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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Jul
25
2018

401(k) Truth Bomb: Missing Participants are Bad, 401(k) Cashouts Are Worse

This Way to Your Next JobThe problem of missing participants continues to receive a great deal of attention from plan sponsors, industry advocates, regulators and politicians.  All parties are keen to address the negative outcomes that result when job-changing 401(k) participants leave behind their accounts with former employers, relocate and fail to update their address.

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Jul
17
2018

Regulators and Policy Advocates Focus on Retirement Savings Portability

Retirement Savings PortabilityResearch has conclusively demonstrated that retirement savings portability dramatically reduces 401(k) cashout leakage, preserves retirement savings and reduces the incidence of missing participants. With that in mind, it’s not surprising that recent retirement public policy activities are increasingly focused on various aspects of portability.

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Jun
01
2017

The Fundamentals of 401(k) Cashout Leakage

The Fundamentals of 401(k) Cashout Leakage videoHow Big is the 401(k) Cashout Leakage Problem? We’ve known for some years now that 401(k) cashout leakage is a very big problem, but have lacked a thorough understanding of its many dimensions. 
This video presentation provides viewers with the latest data characterizing the problem of 401(k) cashout leakage, a major challenge that faces 401(k) participants when they change jobs.

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May
12
2017

Announcing the National Retirement Savings Cash Out Clock

National Retierement Savings Cash Out ClockIn 1989, New York real estate developer Seymour Durst wanted to highlight America’s rising national debt, and came up with an idea: the National Debt Clock. Since then, the National Debt Clock has had a physical presence as a billboard near Times Square, serving as a constant reminder to Americans of their government’s ever-growing debt. 

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Apr
24
2017

Why America’s Retirement Savings Needs Recycling

Earth Day Preserve Retirement Stop Cash OutsAs we marked the 47th annual Earth Day on April 22nd, we were once again reminded of the need to protect our environment. This heightened awareness is testament to how far Americans have come in both recognizing and curbing the wasteful, destructive behaviors that emerged in the decades following World War II. Those excesses have given rise to conservation and environmentalism, and were heralded by the first Earth Day in 1970. 

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