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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.


Jul
19
2021

Five Misconceptions About Automatic Rollovers

Video_SplashMost agree – automatic rollover programs can help plan sponsors deal with problems associated with small-balance accounts, including:

  • ​High levels of missing participants
  • Increased administrative costs and workload
  • Increased recordkeeping fees
  • Lower average account balances
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Jul
12
2021

So Happy Together: Auto Portability & Authorized Portability

So Happy TogetherWhen auto portability becomes ubiquitous in America’s 401(k) system, it will herald 100% fully automated, end-to-end portability for all small-balance job-changers.
 

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Jul
01
2021

A Happy Ending for Consenting 401(k) Participants

Happy EndingFor consenting 401(k) participants, it seems that “happy endings” are possible.

New, compelling data from an ongoing program of portability for small-balance 401(k) job-changers illustrates the effectiveness and appeal of seamless portability, revealing broader implications for auto portability and for all job-changing 401(k) participants, regardless of balance.

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Jun
14
2021

401(k) Retirement Savings: More ‘Gone’ Than ‘Forgotten’

More Gone than ForgottenDraft SECURE 2.0 legislation that provides for a PBGC-based Retirement Savings Office of the Lost and Found, along with the May release of a drama-laden white paper, could leave casual observers with the mistaken impression there is a massive problem with “forgotten” 401(k) accounts.
 

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Jun
03
2021

Re-Securing the Highest Purpose for a Retirement Savings Lost & Found

Highest PurposePast proposals for an Office of the Retirement Savings Lost and Found (“Lost & Found”) offered good examples of how the federal government could serve an important, ancillary role alongside the private sector in our nation’s 401(k) system.

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Dec
01
2020

Three New Year's Resolutions for Plan Sponsors to Consider

2021_ResolutionsIn January, Alight Solutions released 2020 Hot Topics in Retirement & Financial Wellbeing, a survey of 130 plan sponsors employing 5.5 million workers and highlighting key trends among plan sponsors, including expanding financial wellbeing programs, increasing efforts to help participants bridge the gap between working and retiring, and strengthening programs to locate missing participants.

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Aug
17
2020

‘Sudden Money’ and Preserving 401(k) Savings Don’t Mix

sudden moneyResearchers realize that long-term retirement planning is not a natural act for most 401(k) plan participants. Consequently, important 401(k) plan features have evolved (ex. – auto enrollment, auto escalation, QDIA funds, etc.) to overcome the mis-match and to promote saving for retirement. Many of these features work spectacularly well – but only for as long as participants are actively participating in that plan.

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Aug
11
2020

The Tragicomedy of Cashout Leakage

TragicomedyI often write about the phenomenon of cashout leakage, which occurs when participants change jobs and prematurely withdraw their retirement savings, prior to normal retirement age.

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Apr
28
2020

Let’s Extend the Spirit of the CARES Act to Automatic Rollover IRAs

CARESactButton2-01America is a fundamentally caring country, as reflected in the collective actions of its individuals, businesses and policymakers. In the midst of the COVID-19 crisis, no policy reflects this caring spirit more than the aptly-named CARES Act, which, among other things, temporarily allows retirement savers hard-hit by the COVID-19 crisis to tap their qualified retirement savings while avoiding the punitive, 10% early-withdrawal penalty.

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Mar
20
2020

How Does Auto Portability Work? Watch the Video.

How AP Works Blog ImageLooking for a quick primer on how auto portability works? Watch the video below, which walks you through the four-step process, including:

1. Worker changes jobs
2. Locate new worker's account
3. Match data
4. Savings follow worker

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