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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.


Nov
24
2021

Assessing the State of DC Plans & Retirement Savings, 15 Years After the Pension Protection Act

Employee Benefit NewsTraditionally, the anniversary gift for couples celebrating their 15th wedding anniversary is crystal. When the Pension Protection Act of 2006 was signed into law 15 years ago, a crystal ball would have been useful. Although this legislation was (commendably) crafted with the best of intentions, its unintended consequences for defined contribution plan participants and sponsors continue to reverberate.
 

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Nov
18
2021

Four Reasons Why Auto Portability Can't Wait

This Way to Your Next JobAuto portability can’t wait.

There are four key reasons why the new plan feature that automatically moves small balance retirement savings forward as 401(k) participants change jobs can wait no longer.

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Oct
29
2021

Solving Cashout Leakage, Auto Portability Featured in Senate Committee Hearing

SenateAgingCommittee_WEBA 10/28/21 hearing by the U.S. Senate’s Special Committee on Aging, titled A Financially Secure Future: Building a Stronger Retirement System for All Americans, was highly-focused on the problems of cashout leakage, as well as its most promising solution, auto portability.

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Sep
29
2021

The Top Five Misconceptions About Auto Portability

MisconceptionsAuto portability is a new “automatic” plan feature that is rapidly gaining acceptance by large defined contribution recordkeepers serving almost 10 million participants. While the feature is relatively new, it has received a great deal of attention in the media and has also been the beneficiary of definitive regulatory guidance, promulgated by the Department of Labor (DOL).

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Sep
21
2021

Vanguard Joins the Auto Portability Clearinghouse

breaking-news-vanguardIn a press release issued 9/21/21, The Vanguard Group (“Vanguard”) announced it has engaged with Retirement Clearinghouse (RCH) to introduce the RCH Auto Portability program to their defined contribution plan sponsor clients in mid-2022.

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Sep
15
2021

EBRI Research Reveals Auto Portability’s Massive Incremental Benefits to Pending Legislation

incremental benefitsIn a 9/13/21 Employee Benefit Research Institute (EBRI) webinar (The Impact of Proposed Legislative Changes on Retirement Income Adequacy), EBRI Research Director Jack VanDerhei presented an analysis of pending legislative changes, including automatic contribution plans and arrangements (ACPAs), paired with a refundable saver’s credit.

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Sep
07
2021

Refundable Saver’s Tax Credits Would Significantly Reduce Retirement Savings Shortfall—Especially for Minorities

Employee Benefit NewsConcurrent with the COVID-19 pandemic, our elected representatives have been grappling with the issue of wealth disparities between America’s white and minority workers. Commendably, there has been bipartisan support in Washington, DC for measures to assist those who are historically under-served or under-saved in our national system for accumulating and incubating retirement savings.
 

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Sep
06
2021

It’s The Final Countdown for 2021 401(k) Plan Terminations

Term_plan_final_countdownAs we enter the 4th quarter of 2021, many plan sponsors – for a variety of reasons – are faced with the prospect of a 401(k) plan termination.  For most, this will be the first -- and only -- time that they’ll undertake this important project. 

If you’re facing a plan termination in the 2021 calendar year, time is not on your side.  A properly-conducted plan termination can take up to 2-3 months from start-to-finish, and requires significant planning, flawless execution and lots of attention to detail. 

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Sep
01
2021

Beware of Second Order Effects for Retirement Savings Public Policies

Second Order EffectsAt first glance, some retirement savings public policies can seem like a sure thing, particularly when they’re based solely upon the benefits that would directly result. However, in the real world, these “first order” effects are inevitably followed by “second order” effects, which can sometimes be antithetical to the policy’s original intent.

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Aug
02
2021

Senate Hearing Reveals Large Employer Support for Auto Portability

Senate_Finance_RSPDuring testimony in a July 28th hearing held by the Senate Finance Committee (Building on Bipartisan Retirement Legislation: How Can Congress Help?), Aliya Robinson, Senior Vice President of Retirement and Compensation Policy for the ERISA Advisory Committee (ERIC), twice voiced her support for auto portability, the new plan feature that automatically moves small balances to the new employer’s plan when participants change jobs.

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