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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
06
2020

How to Mitigate COVID-19’s Potentially Catastrophic Impact on Americans’ Retirement Readiness

ebn logoIt’s bad enough that more than 50 million Americans have filed claims for unemployment benefits since the start of the COVID-19 pandemic and lockdown. But in addition to the disruption, financial hardship, and uncertainty that unemployed Americans (and their families) are experiencing right now, this crisis also threatens their financial security during retirement.

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Jun
02
2020

COVID-19 Pandemic Demonstrates the Need for Institutionalized Portability

ebn logoThe COVID-19 crisis has created a situation where tens of millions of American workers are in danger of seeing their retirement savings depleted. In addition to the awful death toll, the COVID-19 outbreak has led to extreme disruption in daily life, financial markets, and the economy—especially employment. As of May 28, more than 40 million Americans filed claims for unemployment benefits in the previous 10 weeks. This deadly combination of 1) levels of unemployment not seen since the Great Depression, 2) a significant market downturn, and 3) the ongoing plan-to-plan portability gap, has serious implications for these Americans’ retirement outcomes.

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Feb
25
2020

New Research Confirms Clear Shift Towards Plan-to-Plan Portability

Shift New Research Confirms Clear Shift Towards Plan-to-Plan PortabilityIncreasingly, 401(k) plans have become more-and-more “institutionalized” – reflected by an increased level of sophistication in investment options, coupled with a downward trend in fees. 

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Jan
02
2020

Auto Portability 2019: The Year in Review

ap2019reviewAt Retirement Clearinghouse (RCH), we’re excited about the 2020 prospects for auto portability.  Before we’re too far into a new decade, we wanted to pause, take a breath and share with you some highlights from 2019, a year that’s positioned the newest automatic, default plan feature for widespread adoption.
 

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Mar
11
2019

How Auto Portability Serves Participants’ Best Interests - Part 2: An Enhanced Standard of Participant Care

AP_definition_best_interestsIn this series, I identify five key reasons why an auto portability program serves the best interests of plan participants.

Previously, in Part 1, I examined the dramatically improved participant outcomes that will result from a program of auto portability.

In Part 2, I describe how auto portability, by enhancing and extending automatic rollover programs, represents an enhanced standard of care for participants.

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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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May
31
2018

401(k) Consolidation: What Every Plan Sponsor Should Know

Plan sponsors intuitively know that an explosion of small-balance 401(k) accounts held by terminated participants can create problems.  Unfortunately, few sponsors are clear on the factors that give rise to small accounts, and fewer still understand how they can utilize consolidation programs to solve the problem.

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May
23
2018

Understanding and Solving the Problem of Women’s 401(k) Cashout Leakage

Solving the problem of women's cashout leakageOn May 22ndat a Women’s Institute for a Secure Retirement (WISER) roundtable addressing strategies, choices and decisions for women’s retirement income, important new data was presented that highlights the challenges faced by women in preserving their 401(k) savings when changing jobs – particularly for women with balances less than $5,000.

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Jan
02
2018

Auto Portability Makes Everything Better

Bacon SizzlingBeginning in 2000 and continuing for a decade, American consumers were overtaken by “bacon-mania” – an obsession with the tasty, fried cured-pork treat that included cookbooks, exotic new products and a catchy slogan: “Bacon Makes Everything Better.” Great all by itself, bacon was hailed as having the added virtue of improving the taste of almost any dish it was added to.

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Nov
15
2017

The Results Are In: Auto Portability is a Winner!

And the winner is Auto PortabilityOn November 7th, Retirement Clearinghouse (RCH) issued a press release announcing the results of the first-ever implementation of auto portability, as evaluated by Boston Research Technologies (BRT)’s Warren Cormier in his just-published white paper “Making the Right Choice the Easiest Choice: Eliminating Friction and Leaks in America’s Defined Contribution System.”

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