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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.


Dec
01
2020

Three New Year's Resolutions for Plan Sponsors to Consider

2021_ResolutionsIn January, Alight Solutions released 2020 Hot Topics in Retirement & Financial Wellbeing, a survey of 130 plan sponsors employing 5.5 million workers and highlighting key trends among plan sponsors, including expanding financial wellbeing programs, increasing efforts to help participants bridge the gap between working and retiring, and strengthening programs to locate missing participants.

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Nov
16
2020

Bringing Sunlight to the Dark Corners of Safe Harbor IRA Fees

Sunlight401(k) plan sponsors know all too well that sunlight – coming in the form of transparent fees and disclosures – is vital to fulfilling their fiduciary duty to act in the best interest of their participants.

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Nov
09
2020

Elections Have Consequences—Elect to Help Participants Keep Their Savings, Instead of Losing Their Savings via Mandatory Distributions

ebn logoNo, this article isn’t about the Presidential election. But this year’s election, which took place in the middle of a global pandemic, reminds us that some things are in our control, and some things aren’t. 

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Nov
05
2020

Broadcast Retirement Network Features Segment on ‘Small Account Problem’

BRN AM SplashOn Wednesday, 11/4/20 the Broadcast Retirement Network’s Jeff Snyder interviewed Retirement Clearinghouse (RCH) President & CEO Spencer Williams and Alight Solutions’ Vice President & Head of Research Rob Austin to address the 401(k) system’s small account problem – where high levels of cashout leakage in small balance segments perennially robs millions of participants of a timely or comfortable retirement.

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Oct
12
2020

If Timothy Leary Were a 401(k) Plan Sponsor

If Timothy Leary Were a 401(k) Plan SponsorIn the 1960’s, counter-culture guru Timothy Leary urged a generation to “turn on, tune in and drop out.” It’s probably a good thing that I didn’t take his advice….at least not the “drop out” part! 
 

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Oct
05
2020

The Explosion of Small-Balance IRAs

small_IRA_accountsBased on solid research, we’ve long known that typical automatic rollover IRAs result in high levels of cashout leakage. We’ve also suspected that they’ve contributed to an explosion of small-balance IRAs.
 

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Sep
29
2020

From Tired to Inspired: A Roadmap for 401(k) Roll-Ins

Roll-In RoadmapAs I wrote in a previous article, 401(k) automated portability is an idea whose time has come. To achieve that vision, how will we get from the present state to full automation of the plan-to-plan roll-in process? 

This article, as well as the video below, offers readers a roadmap for the progression from ‘tired’ to ‘wired’ and finally, to the ‘inspired’ state that will eventually characterize 401(k) roll-ins.

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Sep
17
2020

Every Dollar Counts in Today’s Zero-Interest-Rate Environment

ebn logoIt’s no secret that interest rates have been at historically low levels for quite some time, but the recent announcement by Federal Reserve Chairman Jerome Powell indicates that rates will stay near zero for the foreseeable future. Chairman Powell stated in his address last month that the Fed would tolerate above-2% inflation instead of attempting to preemptively control inflation by raising interest rates.

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Sep
16
2020

Automated 401(k) Portability: An Idea Whose Time Has Come

Nothing is More PowerfulFrench author and poet Victor Hugo observed: “nothing is more powerful than an idea whose time has come.”

In theory at least, plan-to-plan portability has always been a feature of our 401(k) system. In practice, it’s been completely impractical for all but a hardy few. The idea of automating 401(k) portability was the holy grail, a ‘moonshot’ generally believed to be impossible…until now.

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Sep
02
2020

401(k) Plan Terminations Could Produce New Wave of Cashout Leakage

401k_Plans_Cashout_LeakageDuring the COVID-19 crisis, massive job losses combined with economic hardship and relaxed restrictions on withdrawals have created the conditions for a perfect storm of 401(k) cashout leakage. Unfortunately, this storm may soon gain more strength, when a surge in end-of-year 401(k) plan terminations could trigger a new flood of cashouts, as participants are forced to leave their former employers’ plans.

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