Alight, a leading next level human capital and business solutions provider, announced that they will offer the RCH Auto Portability solution to its client base of 185 defined contribution plan sponsors serving nearly five million employees at the end of this year. Importantly, the announcement also identified three Alight clients who, among others, are already supportive of auto portability.
The announcement included statements from RLJ Companies Founder & Chairman Robert L. Johnson, Alight Solutions Executive Vice President Alison Borland, and RCH President & CEO Spencer Williams, addressing auto portability’s myriad of benefits, as well as the importance of Alight Solutions’ leadership role in kicking off auto portability’s widespread adoption.
By day’s end, media reaction to the announcement was uniformly positive, and included video segments on CNBC, a feature article in The Wall Street Journal, and coverage by industry press.
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It’s difficult to understate the importance of today’s announcement, since it effectively puts the nation’s defined contribution system on a path towards widespread adoption of auto portability, a plan feature that could preserve up to $2 trillion in retirement savings, according to EBRI.