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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.


Nov
28
2018

What is Auto Portability? It Depends on Who’s Asking.

AP_definitionWith the announcement of the Department of Labor’s recent actions, auto portability has taken center stage in the retirement industry. While auto portability has been well-known to a relatively small group of industry insiders, its recent, widespread coverage in the media has many asking the question “what is auto portability?”

With so many different -- and important -- perspectives on the matter, the best answer will depend on who’s asking the question. 

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Nov
26
2018

Auto Portability is Like Bacon—It Makes Everything Better

Bacon_SizzlingWhen auto enrollment was widely adopted under the Pension Protection Act of 2006, it was a well-intentioned idea for helping Americans save more for retirement.

But in this case, what seemed like the perfect recipe for increasing retirement savings for hardworking Americans was missing a key ingredient.

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Nov
12
2018

Department of Labor Issues Auto Portability Advisory Opinion

DOL Issues AP AOThe Department of Labor (DOL) has issued its 11/06/18 Advisory Opinion 2018-01A on Auto Portability, which can be accessed on the DOL’s website at this link.

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Oct
19
2018

Is Your Missing-Participant Program a Ford Model T or 2018 BMW?

Employee Benefit News

A primary responsibility for fiduciaries is to seek out and identify the best available solutions that enable fulfillment of their responsibilities. For plan sponsors tasked with implementing and evaluating the effectiveness of their missing participant program, this can be a difficult task, particularly given the accelerating rate of technological innovation and the virtual explosion of new sources of data available online. In today’s day and age, what is considered a state-of-the-art program today could easily become obsolete tomorrow, rendering a plan’s missing-participant program vulnerable to fiduciary liability

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Oct
03
2018

It’s The Final Countdown for 2018 401(k) Plan Terminations

Term_plan_final_countdown_2018As we enter the 4th quarter of 2018, 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 2018 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
27
2018

Pairing 401(k) Savings Preservation and Expanded Access for America’s Minorities

092718 Blog Inline ImageOver the past few years, we’ve written extensively about auto portability -- what it is, how it works and the significant, positive impact it will have on the retirement security of working Americans.  Our positions have been supported by research, predictive models (including EBRI’s RSPM) and real-world results from the initial implementation of auto portability.

In this article, we address an important retirement public policy question: How would a pairing of auto portability with open multiple employer plans (or “open MEPs”) impact the retirement savings of America’s minorities, and particularly, African-Americans?

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Sep
07
2018

Three Unique 401(k) Hacks for National 401(k) Day

Three 401k HacksIn observance of National 401(k) Day, we’ve compiled three unique 401(k) “hacks” – simple but clever tips for managing your retirement savings more easily and efficiently.

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Aug
23
2018

Don’t Become a 401(k) DIY Horror Story

401k DIY Horror StoryWith unemployment nearing historic lows, more career opportunity inevitably translates into greater job mobility. That means that more 401(k) participants will be changing jobs and will face important decisions on what to do with their retirement savings.

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Aug
16
2018

A Tale of Two 401(k) Balance Segments

A Tale of Two 401k Balance SegmentsIt was the best of times, it was the worst of times. 

For job-changing 401(k) participants with balances greater than $15,000, it was the spring of financial wellness, as the bulk of their retirement savings would remain intact.  For less-aristocratic 401(k) savers with balances below $15,000, it was the winter of despair, as most of their savings would be lost on the cashout chopping block or forcibly exiled to a safe harbor IRA, where more savings would perish.

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Aug
09
2018

The Next Big Advancement for the 401(k)

Employee Benefit News

Although the 401(k) is today the primary retirement-savings vehicle for many hardworking Americans, it can be easy to forget that the 401(k) is still a relatively new phenomenon.

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