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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.


Mar
16
2020

The Institutionalization of Portability is Key to Reducing Cash-Out Leakage

Employee Benefit News LogoAlthough defined contribution plan recordkeepers and sponsors have made considerable progress helping participants retain savings through reduced fees over the past decade, job-changing participants’ 401(k) savings account balances remain in a state of dangerous limbo, as participants often succumb to the temptation of cashing out. EBRI reports that at least 4.5 million—or 40%—of job-changing participants cash out $92.4 billion in 401(k) savings from the U.S. retirement system every year.

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Feb
05
2020

How Sponsors can Help Minorities Save More for Retirement

Employee Benefit News LogoEvery year, our nation’s retirement system loses $92 billion in savings because 401(k) plan participants prematurely cash out their accounts when they change jobs. This is the most recent estimate from the Employee Benefit Research Institute (EBRI), and while this finding affects all American workers, minorities are hit hardest.
 

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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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Nov
19
2019

The Surprising Migratory Patterns of Job-Changing Participants

Employee Benefit NewsMuch has been written in the media, including this column, about the increase in mobility of today’s American workforce.

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Sep
16
2019

The Most Promising Policies to Reduce 401(k) Cashout Leakage

CashOutLeakageBridgeCashout leakage, a long-standing problem in America’s defined contribution system, is a silent crisis that unnecessarily robs millions of Americans of a comfortable, timely or secure retirement. Plagued by misunderstanding and neglect, it’s vitally important to understand the problem and to take decisive action to curb it.  The fourth of a five-part series, this article addresses policies with the most promise to reduce the 401(k) cashout leakage problem.
 
 
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Aug
21
2019

The Magnitude of the 401(k) Cashout Leakage Problem

Cashout LeakageCashout leakage, a long-standing problem in America’s defined contribution system, is a silent crisis that unnecessarily robs millions of Americans of a comfortable, timely or secure retirement.  Plagued by misunderstanding and neglect, it’s vitally important to understand the problem and to take decisive action to curb it.  The third of a five-part series, this article addresses the magnitude of the 401(k) cashout leakage problem.

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Jul
26
2019

The Demographics of 401(k) Cashout Leakage

Cashout LeakageCashout leakage, a long-standing problem in America’s defined contribution system, is a silent crisis that unnecessarily robs millions of Americans of a comfortable, timely or secure retirement.  Plagued by misunderstanding and neglect, it’s vitally important to understand the problem and to take decisive action to curb it.

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Jun
28
2019

Spotlight on Cashout Leakage: The Fundamentals

Cashout_Leakage_DamCashout leakage, a long-standing problem in America’s defined contribution system, is a silent crisis that unnecessarily robs millions of Americans of a comfortable, timely or secure retirement.  Plagued by misunderstanding and neglect, it’s vitally important to understand the problem and to take decisive action to curb it.

The first of a five-part series, this article addresses the fundamentals of cashout leakage.

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Apr
23
2019

EBRI Webinar Examines Impact of Tenure on Retirement Savings

EBRI LogoOn April 10th, the Employee Benefit Research Institute (EBRI) featured the webinar EBriefing: Trends in Employee Tenure, showcasing the latest EBRI research examining broad employee tenure trends over time, and the impact that shorter tenure can have on retirement savings.

The webinar’s presenters included Craig Copeland, Senior Research Associate, EBRI and Spencer Williams, President & CEO, Retirement Clearinghouse (RCH), and was moderated by Stacy Schaus, Founder & CEO, Schaus Group LLC.
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Apr
22
2019

America's 401(k) System is Unsustainable - Let's Fix It

401k_SustainabilityOn Earth Day 2019, as we focus on creating a sustainable and eco-friendly environment, it's worth considering how the application of similar principles would benefit our retirement system.  America’s 401(k) system is unsustainable – urgently requiring an upgrade to effectively deliver on its intended goal – helping millions of Americans enjoy a timely and comfortable retirement.  The good news is that we're beginning to see important signs of action that could ultimately address the problem.

 

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