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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.


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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Nov
26
2018

Auto Portability is Like Bacon—It Makes Everything Better

Bacon_SizzlingWhen auto enrollment was widely adopted under the Pension Protection Act of 2006, it was a well-intentioned idea for helping Americans save more for retirement.

But in this case, what seemed like the perfect recipe for increasing retirement savings for hardworking Americans was missing a key ingredient.

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Jul
25
2018

401(k) Truth Bomb: Missing Participants are Bad, 401(k) Cashouts Are Worse

This Way to Your Next JobThe problem of missing participants continues to receive a great deal of attention from plan sponsors, industry advocates, regulators and politicians.  All parties are keen to address the negative outcomes that result when job-changing 401(k) participants leave behind their accounts with former employers, relocate and fail to update their address.

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Jul
17
2018

Regulators and Policy Advocates Focus on Retirement Savings Portability

Retirement Savings PortabilityResearch has conclusively demonstrated that retirement savings portability dramatically reduces 401(k) cashout leakage, preserves retirement savings and reduces the incidence of missing participants. With that in mind, it’s not surprising that recent retirement public policy activities are increasingly focused on various aspects of portability.

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Jan
30
2018

Why America Urgently Needs a ‘Sustainable’ Defined Contribution System

America’s defined contribution system is unsustainable RecycleAmerica’s defined contribution system is unsustainable – urgently requiring an upgrade to effectively deliver on its intended goal – helping millions of Americans enjoy a timely and comfortable retirement. 

 

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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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Oct
13
2017

Bringing Clarity to the Murky Problem of Missing Participants

The Murkey Problem of Missing ParticipantsOn October 2nd, 2017, the American Benefits Council delivered a letter to the Department of Labor (DoL), urging the DoL to act on the problem of unresponsive or missing participants, an issue that has proven to be a significant point-of-pain for plan sponsors.

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Sep
18
2017

The Explosion of Small 401(k) Accounts

Small 401K Account ProblemsIt’s generally accepted that the small-balance accounts of terminated 401(k) plan participants have been a problem for plan sponsors, resulting in increased plan costs, fiduciary risk and other ancillary problems, such as missing participants and uncashed distribution checks.

Now, based on new information from EBRI and other sources, we’re learning that small accounts are a large and growing problem for active participants as well.

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May
17
2017
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