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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

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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Mar
31
2021

Cracking the Code to True 401(k) Portability

Cracking-the-Code-to-401k-PortabilityAmerica’s 401(k) system, long plagued by friction, produces $92.4 billion of excessive cash-out leakage annually.   In recent years and culminating in 2021, the private sector has finally “cracked the code” and is delivering innovative fintech solutions, combined with education and personal assistance to reduce friction and to enable true 401(k) portability.

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Mar
17
2021

Consolidating the Gains from a Program of Retirement Savings Portability

Consolidating Gains When research performed 8 years ago reveals that your 401(k) plan, by turning on portability and consolidation for all participants, has halved cashout leakage and dramatically reduced its small account problem, what do you do for an encore?

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Feb
12
2021

This One Simple Trick Radically Boosts Financial Wellness!

One Simple Trick401(k) Plan Sponsors: How would you like to radically boost your participants’ financial wellness, increase your plan’s assets, reduce your plan’s costs, and prevent missing participants?

Adopting this one simple and proven trick – retirement savings portability – delivers all this and more!

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Feb
08
2021

Missing Participants: Five Important Considerations for Plan Sponsors

Missing_Carton_Five_ConsiderationsThe problem of missing participants in employer-sponsored retirement plans is one of the most important, yet perplexing issues facing plan sponsors, and for good reason.

Ensuring that participants (or their beneficiaries) receive their benefits is the essence of an employer’s fiduciary responsibility – and missing or unresponsive participants who become separated from those benefits can generate significant risks for plan fiduciaries.

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Jan
26
2021

New Research on Locating Missing Participants Augments DOL Guidance

Missing_Carton_New_MP_ResearchOn 1/26/21, Retirement Clearinghouse (RCH) released a study that advances the art and science of locating missing 401(k) plan participants. The study – Improving the Effectiveness of Electronic Missing Participant Searches – comes on the heels of U.S. Department of Labor (DOL) guidance on the topic and is highly-useful for plan sponsors who utilize electronic searches, or “e-Searches” as they are referenced in the study.

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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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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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