Blog

Menu

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.


May
30
2019

How Auto Portability Serves Participants’ Best Interests: Part 5

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 5, my final installment of the series, I explain how auto portability can mitigate retirement-related cybersecurity risks.

Read More
May
23
2019

How Auto Portability Serves Participants’ Best Interests - Part 4: Auto Portability Enhances Participants' Financial Wellness

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 presented evidence that the adoption of auto portability could lead to a reduction in plan expenses. 

In Part 4, I address how auto portability could enhance 401(k) participants’ financial wellness.

Read More
May
07
2019

A Plan Metric Every Sponsor Should Track: Participant-Retained Retirement Savings

EBN

When evaluating their defined contribution plans, plan sponsors understandably look at standard benchmarks such as rate of participation, average deferral percentage, and average account balance. However, given the highly mobile nature of today’s American workforce, sponsors should also consider tracking the average percentage of retirement savings that participants retain during their job tenure, and when they leave to join another employer.

Read More
Apr
08
2019

Cybersecurity is Augmented by Auto Portability

EBN

All companies that manage personal consumer data, regardless of where they are based or what industry they are part of, are right to be concerned about cybersecurity. The scope and scale of cyberattacks continue to increase around the world, as last year’s breach compromising 50 million Facebook users demonstrated.

Read More
Mar
27
2019

Tax Day is Coming—Encourage Millennial Participants to Incubate Saver’s Credits

ebnimage

April 15 is just around the corner. While many Americans dread Tax Day, April 15 presents defined contribution plan sponsors with an opportunity to demonstrate their value as fiduciaries, and as financial wellness advocates.

Read More
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.

Read More
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.

Read More
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.

Read More
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?

Read More
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.

Read More
Page:
1 2 3 4 5
... 6 »