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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.


May
12
2021

A Big Problem: Another Leakage Study Reaches the Same Conclusion

Cashout_Leakage_DamArriving with little fanfare, a recent study prepared by the Staff of the Joint Committee on Taxation, a nonpartisan committee of the United States Congress, confirms the findings of earlier research on cashout leakage – namely, that cashout leakage is a big problem, is driven by job changing, and is exacerbated by "forced distributions and [a lack of] portability of plans.”

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Apr
29
2021

Auto Portability is an Easily Quantifiable Solution for Helping Participants Achieve Financial Wellness

ebnimageFinancial wellness has taken on a new urgency over the past year as we have witnessed a series of “once-in-a-lifetime” events that affect how we work and save for retirement. In response, many plan sponsors have adopted new and important tools to strengthen the financial wellbeing of their participants.
 

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Apr
22
2021

The Case for Auto Portability Gets Stronger

The Case for Auto Portability Gets StrongerThe case for auto portability, the new 401(k) plan default feature that automatically transfers small-balance retirement savings when participants change jobs, has always been strong. Now, with the April 22nd release of EBRI’s 31st Annual Retirement Confidence Survey (RCS), the case has grown stronger.
 

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Mar
31
2021

Cracking the Code to True 401(k) Portability

Cracking-the-Code-to-401k-PortabilityAmerica’s 401(k) system, long plagued by friction, produces $92.4 billion of excessive cash-out leakage annually.   In recent years and culminating in 2021, the private sector has finally “cracked the code” and is delivering innovative fintech solutions, combined with education and personal assistance to reduce friction and to enable true 401(k) portability.

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Mar
22
2021

What’s Missing from Many Plans? Current Addresses for Participants

ebnimageSo many extraordinary developments took place last year that some trends fell under the radar. One of these—the sharp uptick in migration out of large U.S. cities—can make a significant impact on sponsors and their plans.

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Mar
17
2021

Consolidating the Gains from a Program of Retirement Savings Portability

Consolidating Gains When research performed 8 years ago reveals that your 401(k) plan, by turning on portability and consolidation for all participants, has halved cashout leakage and dramatically reduced its small account problem, what do you do for an encore?

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Feb
22
2021

Auto Portability Is, And Always Will Be, A Bipartisan Solution

ebnimageWith Boston Mayor Marty Walsh’s nomination to become Secretary of Labor advancing through the Senate, the transfer of power in Washington, DC is progressing. Although the Department of Labor is taking direction from a Democratic administration, the solution to the problem of rampant asset-leakage from the U.S. retirement system will remain on track.

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Feb
12
2021

This One Simple Trick Radically Boosts Financial Wellness!

One Simple Trick401(k) Plan Sponsors: How would you like to radically boost your participants’ financial wellness, increase your plan’s assets, reduce your plan’s costs, and prevent missing participants?

Adopting this one simple and proven trick – retirement savings portability – delivers all this and more!

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Feb
08
2021

Missing Participants: Five Important Considerations for Plan Sponsors

Missing_Carton_Five_ConsiderationsThe problem of missing participants in employer-sponsored retirement plans is one of the most important, yet perplexing issues facing plan sponsors, and for good reason.

Ensuring that participants (or their beneficiaries) receive their benefits is the essence of an employer’s fiduciary responsibility – and missing or unresponsive participants who become separated from those benefits can generate significant risks for plan fiduciaries.

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Feb
01
2021

Nudge Theory can Help Sponsors Strengthen Financial Wellness Initiatives

ebnimageAfter the year we’ve had, it’s no wonder there is so much more concern about financial wellness. But while plan sponsors are well-intentioned in their efforts to help participants increase their retirement savings and other financial outcomes, the latter haven’t noticed.

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