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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

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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Jul
01
2021

A Happy Ending for Consenting 401(k) Participants

Happy EndingFor consenting 401(k) participants, it seems that “happy endings” are possible.

New, compelling data from an ongoing program of portability for small-balance 401(k) job-changers illustrates the effectiveness and appeal of seamless portability, revealing broader implications for auto portability and for all job-changing 401(k) participants, regardless of balance.

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Jun
14
2021

401(k) Retirement Savings: More ‘Gone’ Than ‘Forgotten’

More Gone than ForgottenDraft SECURE 2.0 legislation that provides for a PBGC-based Retirement Savings Office of the Lost and Found, along with the May release of a drama-laden white paper, could leave casual observers with the mistaken impression there is a massive problem with “forgotten” 401(k) accounts.
 

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Jun
03
2021

Re-Securing the Highest Purpose for a Retirement Savings Lost & Found

Highest PurposePast proposals for an Office of the Retirement Savings Lost and Found (“Lost & Found”) offered good examples of how the federal government could serve an important, ancillary role alongside the private sector in our nation’s 401(k) system.

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May
12
2021

A Big Problem: Another Leakage Study Reaches the Same Conclusion

Cashout_Leakage_DamArriving with little fanfare, a recent study prepared by the Staff of the Joint Committee on Taxation, a nonpartisan committee of the United States Congress, confirms the findings of earlier research on cashout leakage – namely, that cashout leakage is a big problem, is driven by job changing, and is exacerbated by "forced distributions and [a lack of] portability of plans.”

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Apr
22
2021

The Case for Auto Portability Gets Stronger

The Case for Auto Portability Gets StrongerThe case for auto portability, the new 401(k) plan default feature that automatically transfers small-balance retirement savings when participants change jobs, has always been strong. Now, with the April 22nd release of EBRI’s 31st Annual Retirement Confidence Survey (RCS), the case has grown stronger.
 

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