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.
New Research on Locating Missing Participants Augments DOL Guidance
On 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.
How Sponsors can Facilitate Better Participant Outcomes—and Improve Plan Metrics—in 2021
You don’t need me to remind you that 2020 has been an extraordinary year that many of us would like to forget. The New Year we have been looking forward to for some time is now here.
Three New Year's Resolutions for Plan Sponsors to Consider
In January, Alight Solutions released 2020 Hot Topics in Retirement & Financial Wellbeing, a survey of 130 plan sponsors employing 5.5 million workers and highlighting key trends among plan sponsors, including expanding financial wellbeing programs, increasing efforts to help participants bridge the gap between working and retiring, and strengthening programs to locate missing participants.
Bringing Sunlight to the Dark Corners of Safe Harbor IRA Fees
401(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.
Elections Have Consequences—Elect to Help Participants Keep Their Savings, Instead of Losing Their Savings via Mandatory Distributions
No, this article isn’t about the Presidential election. But this year’s election, which took place in the middle of a global pandemic, reminds us that some things are in our control, and some things aren’t.
Broadcast Retirement Network Features Segment on ‘Small Account Problem’
On Wednesday, 11/4/20 the Broadcast Retirement Network’s Jeff Snyder interviewed Retirement Clearinghouse (RCH) President & CEO Spencer Williams and Alight Solutions’ Vice President & Head of Research Rob Austin to address the 401(k) system’s small account problem – where high levels of cashout leakage in small balance segments perennially robs millions of participants of a timely or comfortable retirement.
If Timothy Leary Were a 401(k) Plan Sponsor
In 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!
The Explosion of Small-Balance IRAs
Based 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.
From Tired to Inspired: A Roadmap for 401(k) Roll-Ins
As I wrote in a previous article, 401(k) automated portability is an idea whose time has come. To achieve that vision, how will we get from the present state to full automation of the plan-to-plan roll-in process?
This article, as well as the video below, offers readers a roadmap for the progression from ‘tired’ to ‘wired’ and finally, to the ‘inspired’ state that will eventually characterize 401(k) roll-ins.
Every Dollar Counts in Today’s Zero-Interest-Rate Environment
It’s no secret that interest rates have been at historically low levels for quite some time, but the recent announcement by Federal Reserve Chairman Jerome Powell indicates that rates will stay near zero for the foreseeable future. Chairman Powell stated in his address last month that the Fed would tolerate above-2% inflation instead of attempting to preemptively control inflation by raising interest rates.