As we draw nearer to the 4^th quarter of every year, 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 current 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. 

During the COVID-19 crisis, massive job losses combined with economic hardship and relaxed restrictions on withdrawals have created the conditions for a perfect storm of 401(k) cashout leakage. Unfortunately, this storm may soon gain more strength, when a surge in end-of-year 401(k) plan terminations could trigger a new flood of cashouts, as participants are forced to leave their former employers’ plans.

Retirement Clearinghouse (RCH) is pleased to offer a three-part series of educational videos on plan terminations, presented by Mike Wilder, RCH’s Senior Vice President, Strategic Accounts. These videos are intended to provide plan sponsors with a basic understanding of key plan termination process steps, the common mistakes that are made by plan sponsors, and the key criteria for selecting a plan termination services provider. We hope you’ll find these videos interesting & informative!

Retirement Clearinghouse (RCH) is pleased to offer a three-part series of educational videos on plan terminations, presented by Mike Wilder, RCH’s Senior Vice President, Strategic Accounts. These videos are intended to provide plan sponsors with a basic understanding of key plan termination process steps, the common mistakes that are made by plan sponsors, and the key criteria for selecting a plan termination services provider. We hope you’ll find these videos interesting & informative!

Retirement Clearinghouse (RCH) is pleased to offer the first educational video of a three-part series on DC plan terminations, presented by Mike Wilder, RCH’s Senior Vice President, Strategic Accounts. These videos are intended to provide plan sponsors with a basic understanding of key plan termination process steps, the common mistakes that are made by plan sponsors, and the key criteria for selecting a plan termination services provider. We hope you’ll find these videos interesting & informative! 

Chris Garza, RCH’s Service and Consolidation Team Manager, provides insight into the top five mistakes that participants make when changing jobs.

At Retirement Clearinghouse (RCH), the 4^th quarter is the busiest time of the year, as many plan sponsors look to complete plan terminations and mandatory distributions before the end of the year. However, to follow appropriate communication timeframes, deadlines to initiate the necessary communications process needed to complete these year-end plan initiatives are fast approaching.