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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.


Thomas Hawkins

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As Senior Vice President of Marketing & Research, Tom Hawkins manages RCH's marketing and research initiatives, including development of original content, RCH's internet presence, digital marketing and industry research.
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Recent Posts

Jan
06
2022

Four Reasons Why 401(k) Auto Portability is Inevitable

AP is InevitableDespite my being a long-time, unabashed proponent of auto portability – the new plan feature that provides seamless, end-to-end portability for small 401(k) retirement savings accounts – it’s always felt like an uphill battle to bring about its widespread adoption in our 401(k) system.

While that battle is by no means over, in late 2021, I finally accepted and now firmly believe that auto portability is, in fact, inevitable.

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Dec
13
2021

Kennedy Townsend: Solving Portability and Cashout Leakage are a Key DOL Priority

KKT_EBRI_SplashOn 12/6/21, the Employee Benefit Research Institute (EBRI) conducted day 1 of their two-day 90th Annual Public Policy Forum.  This forum’s theme was “A Path to a More Equitable Solution: Solving the Retirement Coverage Gap” and it seems to have been highly popular, as it broke EBRI’s previous record for forum attendance. 

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Dec
02
2021

A Brief History of Auto Portability

Video_Splash-1Auto portability is a new “automatic” plan feature rapidly gaining acceptance by large defined contribution recordkeepers. While the feature is relatively new, it’s tempting to view auto portability as an “overnight success.” In fact, auto portability has been a long time in the making.  In the article and in the embedded video below, please enjoy a “brief history” of auto portability.

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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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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
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
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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Jul
19
2021

Five Misconceptions About Automatic Rollovers

Video_SplashMost agree – automatic rollover programs can help plan sponsors deal with problems associated with small-balance accounts, including:

  • ​High levels of missing participants
  • Increased administrative costs and workload
  • Increased recordkeeping fees
  • Lower average account balances
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Jul
12
2021

So Happy Together: Auto Portability & Authorized Portability

So Happy TogetherWhen auto portability becomes ubiquitous in America’s 401(k) system, it will herald 100% fully automated, end-to-end portability for all small-balance job-changers.
 

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