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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.


Feb
22
2021

Auto Portability Is, And Always Will Be, A Bipartisan Solution

ebnimageWith Boston Mayor Marty Walsh’s nomination to become Secretary of Labor advancing through the Senate, the transfer of power in Washington, DC is progressing. Although the Department of Labor is taking direction from a Democratic administration, the solution to the problem of rampant asset-leakage from the U.S. retirement system will remain on track.

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Feb
01
2021

Nudge Theory can Help Sponsors Strengthen Financial Wellness Initiatives

ebnimageAfter the year we’ve had, it’s no wonder there is so much more concern about financial wellness. But while plan sponsors are well-intentioned in their efforts to help participants increase their retirement savings and other financial outcomes, the latter haven’t noticed.

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Sep
29
2020

From Tired to Inspired: A Roadmap for 401(k) Roll-Ins

Roll-In RoadmapAs 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.

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Sep
16
2020

Automated 401(k) Portability: An Idea Whose Time Has Come

Nothing is More PowerfulFrench author and poet Victor Hugo observed: “nothing is more powerful than an idea whose time has come.”

In theory at least, plan-to-plan portability has always been a feature of our 401(k) system. In practice, it’s been completely impractical for all but a hardy few. The idea of automating 401(k) portability was the holy grail, a ‘moonshot’ generally believed to be impossible…until now.

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Aug
11
2020

The Tragicomedy of Cashout Leakage

TragicomedyI often write about the phenomenon of cashout leakage, which occurs when participants change jobs and prematurely withdraw their retirement savings, prior to normal retirement age.

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Jul
14
2020
Feb
20
2020

Video: Is Auto Portability the Next 401(k) ‘ESG’ Initiative?

Is Auto Portability the Next 401(k) ‘ESG’ Initiative?

Three recent developments indicate that the retirement industry is waking up to the need to address 401(k) cashout leakage, and importantly – from within the framework of corporate social responsibility.

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Feb
10
2020

How Socially Responsible Corporations Will Solve the 401(k) Cashout Crisis

RetirementSavingsEvery year a silent, slow-motion train wreck occurs in America’s 401(k) system, when millions of job-changing workers prematurely cash out billions of dollars in retirement savings, a phenomenon known in retirement industry lingo as “cashout leakage."
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Jan
29
2020

The New Age of DC Plan Portability

The New AgeA recent survey of defined contribution (DC) plan sponsors found that interest in retaining assets for retirement is on the rise. That finding, paired with certain provisions of the SECURE Act of 2019, suggests that DC plans are on a path to becoming “decumulation vehicles” for American retirees. While these developments are encouraging, persistently high levels of cashout leakage, increasing missing participants and other factors produce understandable pessimism regarding the future of DC plans. 


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Dec
24
2019

A Financial Wellness Program You Can Actually Measure

Employee Benefit News

Although the financial wellness of employees has emerged as a top priority for employers in recent years, too many workers are still struggling to improve their financial health.

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