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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.


Aug
09
2016

Why Small Balance Cash Outs Are Falling Through the Cracks

Market Share by NumbersAccording to the recently released 2016 Willis Towers Watson U.S. Retirement Governance Survey, a major trend in retirement plan governance is the growing concern employers have for employees’ retirement benefit adequacy and financial well-being. To address this concern, sponsors indicated plans to increase monitoring of participant behaviors, using metrics such as plan participation and contribution rates, as well as carefully tracking the performance of their plans’ investment managers.

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Jul
01
2016

When it Comes to Saving for Retirement, Millennials Can Learn from Baby Boomers’ Mistakes

MarketWatchIn his 6/30/16 MarketWatch article, RCH President and CEO Spencer Williams suggests an inter-generational dialogue on the pitfalls to avoid when saving for retirement.

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Jun
21
2016

Calls for Portability Solutions to Curb Cash Out Leakage Growing Louder

Washington DC USACash out leakage – the premature withdrawal of retirement savings for non-retirement expenses – is a persistent problem in the retirement industry, and growing more pervasive as employee mobility increases.

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Jun
16
2016

Interesting Finding Emerges from the Auto Portability Simulation

EBRIWhen the Auto Portability Simulation (APS) model was recently unveiled at EBRI’s 78th Policy Forum, a lot of attention was paid to the “marquee” numbers, and rightly so.  I’m referring here to the $154 billion reduction in cashout leakage, as well as the $115 billion increase in plan-to-plan roll-ins that occur under the adoption of Auto Portability. 

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May
20
2016

Auto Portability Simulation Model Unveiled at 78th EBRI Policy Forum

 EBRIOn May 12th, Retirement Clearinghouse President & CEOJ. Spencer Williams unveiled theAuto Portability Simulation(APS) at theEmployee Benefit Research Institute's 78th Policy Forum. The APS was developed by Retirement Clearinghouse in conjunction with Dr. Ricki Ingalls, Chair of Computer Information Systems at Texas State University, and Principal at Diamond Head Associates, Inc.

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Apr
22
2016

For Earth Day: Consider How "Recycling" Could Apply to Our Retirement System

Safe Harbor IRA Landfill vs. RCH Recycle Auto Portability

As we observe the 46th annual Earth Day this April 22nd, we appreciate the awareness that this event has brought to the need to protect our environment, the urgency that it’s instilled in all of us, and the tangible results that have been achieved in so many important areas. Although we have much work to do, we’ve clearly come a long way since the “throwaway” culture that emerged following World War II.

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Apr
21
2016

Five Common Misconceptions About Automatic Rollovers

False Automatic Rollovers

Automatic rollover programs allow plan sponsors to force out of their plan separated participants with balances less than $5,000 into a Safe Harbor IRA.  These programs can be quite effective at helping sponsors resolve many of the problems associated with housing small-balance accounts in-plan, such as: 

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Mar
30
2016

The Fiduciary Rule and Participant Transition Management

IRA Rollover Leave In Plan Cash Out Transitioning Participant Eye TestAny day now, the Department of Labor will issue the final version of the long-awaited “Fiduciary Rule” which will redefine the term “fiduciary” under ERISA.  Much has been written about the impact on advisors and broker-dealers, given their service models to retirement plans.  

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Dec
16
2015

The checklist you need to manage multiple retirement accounts

MarketWatchIn his December 16th, 2015 article in MarketWatch, RCH’s CEO Spencer Williams offers a year-end checklist for those retirement savers who’ve elected to leave qualified retirement savings accounts behind with their former employers.

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Dec
15
2015

As 401(k) Cash Out Leakage Grows, So Does Need for Auto Portability

Leaky FaucetIn his December 11th article in BenefitsPro (Addressing the Critical Problem of 401(k) Cash Outs), Nick Thornton draws much-needed attention to the magnitude of the 401(k) cash out leakage issue, due to the frictions associated with account portability when plan participants switch jobs. Thornton’s article rightly emphasizes the need for automated portability – similar to automatic enrollment and deferral increases - to effectively address the cash out problem. 

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