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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.


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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Mar
23
2019

EBRI Webinar Extends Auto Portability’s Benefits to Young Millennials

EBRI LogoIn their March 20th webinar "Achieving Retirement Income Equivalency Between Final-Average-Pay Defined Benefit Plans and Automatic Enrollment 401(k) Plans in the Private Sector", the Employee Benefits Research Institute (EBRI) revealed more research that supports the case for auto portability

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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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Feb
22
2019

How Auto Portability Serves Participants’ Best Interests, Part 1: Dramatically Improved Participant Outcomes

AP_definition_best_interestsPlan sponsors considering the adoption of auto portability must determine that, by participating in the auto portability program, they are acting prudently and solely in the interests of their plan’s participants and beneficiaries.

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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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Nov
26
2018

Auto Portability is Like Bacon—It Makes Everything Better

BaconWhen 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
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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