--- title: RCH Consolidation Corner | Spencer Williams (2) description: "As President and CEO, J. Spencer Williams applies more than 25 years of experience in starting, building and leading businesses in the financial services industry. Under his leadership, Retirement Clearinghouse has introduced new industry best practices, been recognized for innovation, improved the operations of thousands of retirement plans, and enhanced the retirement prospects of hundreds of thousands of retirement plan participants.\n (2)" --- [![Retirement Clearinghouse Logo](https://blog.rch1.com/hs-fs/hubfs/raw_assets/public/Retirement_Clearinghouse_May2022/images/logo.png?width=1000&height=648&name=logo.png "Retirement Clearinghouse Logo")](https://rch1.com/) [Privacy Policy](https://securities.rch1.com/common/PrivacyStatement.pdf) [Sponsors/Service Providers](https://rch1.com/plan-sponsors) [Individuals](https://rch1.com/individuals) [Login](https://rch1.com/#) - [Home](https://rch1.com/home-page) - [Individuals](https://rch1.com/individuals) - [Individuals Home](https://rch1.com/individuals/individuals-home) - [Who is RCH?](https://rch1.com/individuals/who-is-rch) - [Why Does RCH Have My Retirement Savings?](https://rch1.com/individuals/why-does-rch-have-my-retirement-funds) - 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Spencer Williams applies more than 25 years of experience in starting, building and leading businesses in the financial services industry. Under his leadership, Retirement Clearinghouse has introduced new industry best practices, been recognized for innovation, improved the operations of thousands of retirement plans, and enhanced the retirement prospects of hundreds of thousands of retirement plan participants. [Follow me on my website](http://www.rch1.com/corporate-profile/management-team/j-spencer-williamspresident-and-ceo) [Follow me on LinkedIn](https://www.linkedin.com/in/spencer-williams-01894a9) [Follow me on Twitter](https://www.twitter.com/RCHConsolidate) ## Menu - [News](https://rch1.com/news) - [Press Releases](https://rch1.com/press-releases) - [Thought Leadership](https://rch1.com/thought-leadership) [Retirement Clearinghouse](https://rch1.com/retirement-clearinghouse) [Retirement Industry](https://rch1.com/retirement-industry) [Public Policy](https://rch1.com/public-policy-thought) - [Events](https://rch1.com/events) - - - - [Blog](https://blog.rch1.com/blog) - [401k Cash Outs](https://blog.rch1.com/blog/topic/401k-cash-outs) - [401k Consolidation](https://blog.rch1.com/blog/topic/401k-consolidation) - [401k Plan Termination](https://blog.rch1.com/blog/topic/401k-plan-termination) - [America's Mobile Workforce](https://blog.rch1.com/blog/topic/americas-mobile-workforce) - [Assisted Roll-in](https://blog.rch1.com/blog/topic/assisted-roll-in) - 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[Saver's Match](https://blog.rch1.com/blog/topic/savers-match) - [Security](https://blog.rch1.com/blog/topic/security) - [Small Accounts](https://blog.rch1.com/blog/topic/small-accounts) - [Stale Dated Checks](https://blog.rch1.com/blog/topic/stale-dated-checks) - [Synthetic Tenure](https://blog.rch1.com/blog/topic/synthetic-tenure) - [Uncashed Check Services](https://blog.rch1.com/blog/topic/uncashed-check-services) - [Uncashed Distribution Checks](https://blog.rch1.com/blog/topic/uncashed-distribution-checks) - [Video](https://blog.rch1.com/blog/topic/video) - [Webcast](https://blog.rch1.com/blog/topic/webcast) - [What is a Missing Participant?](https://blog.rch1.com/blog/topic/what-is-a-missing-participant) [Tweets by @RCHConsolidate](https://twitter.com/RCHConsolidate) ### 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 20 2023 ## [Auto Portability is Poised to Make an Even Bigger Impact in 2024](https://blog.rch1.com/blog/the-institutionalization-of-portability-is-key-to-reducing-cash-out-leakage-0) [![Employee Benefit News Logo](https://blog.rch1.com/hs-fs/hubfs/Publications/EBN/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/for-retirement-plans-auto-portability-is-poised-to-make-an-impact-in-2024)On the last day of 2023, a key provision of the [SECURE 2.0 Act](https://www.benefitnews.com/advisers/opinion/automated-portability-can-preserve-retirement-readiness-and-401k-balances)—increasing the limit on small 401(k) accounts subject to automatic rollovers into safe-harbor IRAs from $5,000 to $7,000—went into effect. [Read More](https://blog.rch1.com/blog/the-institutionalization-of-portability-is-key-to-reducing-cash-out-leakage-0) Aug 31 2023 ## [A Perfect Storm is Brewing—But Automated Portability Could Defuse It](https://blog.rch1.com/blog/a-perfect-storm-is-brewing-but-automated-portability-could-defuse-it) [![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/automated-portability-can-preserve-retirement-readiness-and-401k-balances)In the summer, we are used to temperatures spiking. But in addition to record-breaking temperatures and erratic weather, this summer has also brought a sharp increase in 401(k) hardship withdrawals. [Read More](https://blog.rch1.com/blog/a-perfect-storm-is-brewing-but-automated-portability-could-defuse-it) Jun 20 2023 ## [The New Urgency for Mitigating 401(k) Account Cash-Outs](https://blog.rch1.com/blog/the-new-urgency-for-mitigating-401k-account-cash-outs) [![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/the-new-urgency-for-mitigating-401k-account-cash-outs)Americans’ lack of retirement preparedness has long been an area of concern for our nation. But findings in a recent study underscore that, despite all of the media articles offering tips for how to save more for retirement, many Americans are still making a self-destructive decision that can leave them with less when they retire. [Read More](https://blog.rch1.com/blog/the-new-urgency-for-mitigating-401k-account-cash-outs) Apr 01 2023 ## [Financial Literacy Can Help Close the Minority Wealth Gap for Retirement Savings](https://blog.rch1.com/blog/financial-literacy-can-help-close-the-minority-wealth-gap-for-retirement-savings) [![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/financial-literacy-can-close-the-minority-wealth-gap-for-retirement-savings)Knowledge is power, as the saying goes. As Americans observe another Financial Literacy Month, members of the retirement services industry have an opportunity to pause and think about how they can help [empower more people](https://www.benefitnews.com/opinion/how-financial-wellness-programs-can-encourage-employee-participation-in-retirement-savings) to achieve a financially secure retirement. [Read More](https://blog.rch1.com/blog/financial-literacy-can-help-close-the-minority-wealth-gap-for-retirement-savings) Jan 04 2023 ## [A No-Brainer Benefit that Advisors can Bring to Plan-Sponsor Clients](https://blog.rch1.com/blog/a-no-brainer-benefit-that-advisors-can-bring-to-plan-sponsor-clients) [![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/boost-retirement-plan-assets-through-auto-portability)The passage of the Securing a Strong Retirement Act of 2022 (known as “SECURE 2.0”) reinforces the [bipartisan commitment](https://www.benefitnews.com/opinion/auto-portability-is-and-always-will-be-a-bipartisan-solution) in Congress to helping Americans save more for retirement. Signed into law as part of a $1.7 trillion omnibus spending bill signed by President Biden on December 29, the legislation includes a variety of provisions, including the expansion of automatic enrollment in 401(k) and 403(b) plans. Fortuitously, SECURE 2.0 measures related to [auto portability](https://www.prnewswire.com/news-releases/robert-l-johnson-founder-of-the-rlj-companies-and-chairman-of-portability-services-network-lauds-congress-for-including-auto-portability-in-the-secure-2o-act-of-2022--as-part-of-the-omnibus-spending-bill-301710713.html) come shortly after the launch of an industry initiative to make auto portability—a technology solution that can operate in tandem with auto enrollment to optimize plan participants’ retirement outcomes—much more accessible to plan sponsors across the country. [Read More](https://blog.rch1.com/blog/a-no-brainer-benefit-that-advisors-can-bring-to-plan-sponsor-clients) Nov 01 2022 ## [A New Year’s Resolution for Sponsors: Facilitate Automated Plan-to-Plan Portability for Your Participants](https://blog.rch1.com/blog/a-new-years-resolution-for-sponsors-facilitate-auto-portability) ![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)At a time when terms like “inflation,” “gas prices,” “recession,” and “volatility” dominate chatter about the U.S. economy, plan sponsors and recordkeepers are likely fielding questions and concerns from participants. [Every dollar counts](https://www.benefitnews.com/advisers/opinion/every-dollar-counts-in-todays-zero-interest-rate-environment) when saving for a financially secure retirement, especially with the present volatility in the financial markets. But while investment fund options, asset classes, and fees are important for helping participants weather inflation and save more, there is another way that sponsors and recordkeepers can help participants protect, and increase, their retirement savings in the New Year—facilitate portability. [Read More](https://blog.rch1.com/blog/a-new-years-resolution-for-sponsors-facilitate-auto-portability) Aug 31 2022 ## [Every Dollar Saved for Retirement Matters -- So Save More By Avoiding Cash-Outs & Consolidating 401(k) Accounts](https://blog.rch1.com/blog/every-dollar-saved-for-retirement-matters-so-save-more-by-avoiding-cash-outs-consolidating-401k-accounts) ![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)Retired Baby Boomers who are saving for retirement through defined contribution plans like 401(k)s are drawing down their savings faster than their counterparts in previous generations who had pensions and other defined benefit plans, according to [recent industry research](https://www.financial-planning.com/news/boomers-cash-out-401ks-faster-than-predecessors-did-pensions). And on top of that, Baby Boomers who may be relying solely on their defined contribution plans may wind up with less savings for retirement than their counterparts who waited longer to withdraw savings from their defined benefit plans—and could, therefore, outlive their nest eggs. [Read More](https://blog.rch1.com/blog/every-dollar-saved-for-retirement-matters-so-save-more-by-avoiding-cash-outs-consolidating-401k-accounts) Jul 01 2022 ## [Newly Proposed Legislation Can Help Resolve America’s Retirement-Savings Gaps](https://blog.rch1.com/blog/newly-proposed-legislation-can-help-resolve-americas-retirement-savings-gaps) [![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/advancing-auto-portability-act-can-resolve-retirement-savings-gaps)Vanguard’s *How America Saves* report for 2022 provided cause for optimism with some of its findings. For example, employee participation rates in Vanguard-managed defined contribution plans remain high, and have not declined year-over-year during the pandemic. The majority of participants in Vanguard plans also increased or maintained their contributions last year, and the average account balance for Vanguard participants increased by 10% year-over-year, to $141,542. [Read More](https://blog.rch1.com/blog/newly-proposed-legislation-can-help-resolve-americas-retirement-savings-gaps) Apr 05 2022 ## [The Next Area to Tackle for Preserving Retirement Savings: Uncashed Distribution Checks](https://blog.rch1.com/blog/the-next-area-to-tackle-for-preserving-retirement-savings-uncashed-distribution-checks) [![Employee Benefit News](https://blog.rch1.com/hs-fs/hubfs/Publications/EBN/ebnimage.jpg?width=200&name=ebnimage.jpg "Employee Benefit News")](https://www.benefitnews.com/advisers/opinion/uncashed-401k-distribution-checks-can-generate-big-savings)Last year marked the 15th anniversary of the [Pension Protection Act of 2006](https://www.benefitnews.com/advisers/opinion/15-years-of-401k-lessons-from-the-pension-protection-act). This legislation included well-intentioned provisions for helping Americans increase their retirement savings, including the capability for defined contribution plan sponsors to [automatically enroll](https://www.benefitnews.com/opinion/the-unintended-consequence-of-401-k-auto-enrollment) employees in their plans. Despite the good intentions behind auto enrollment, and all the positive outcomes that have resulted, its introduction also coincided with high workforce mobility and a lack of seamless plan-to-plan savings portability, which has led to a surge in [small, stranded 401(k) savings accounts](https://www.benefitnews.com/opinion/why-small-retirement-accounts-are-the-root-of-many-problems). [Read More](https://blog.rch1.com/blog/the-next-area-to-tackle-for-preserving-retirement-savings-uncashed-distribution-checks) Jan 25 2022 ## [The ‘Great Resignation’ Screams for Improved Retirement-Savings Portability](https://blog.rch1.com/blog/the-great-resignation-screams-for-improved-retirement-savings-portability) [![ebnimage](https://blog.rch1.com/hs-fs/hubfs/ebnimage.jpg?width=200&name=ebnimage.jpg)](https://www.benefitnews.com/advisers/opinion/the-great-resignation-has-made-retirement-portability-vital)COVID-19 has altered so much in our nation, and our world, over the past two years. Many of us learned to stop and smell the roses during lockdowns, and count our blessings, especially health and family. For those who were fortunate enough to remain employed full-time during the pandemic and could work remotely, videoconferencing tools like Zoom and Microsoft Teams suddenly became indispensable for conferring with colleagues and customers. 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