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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.


Sep
29
2021

The Top Five Misconceptions About Auto Portability

MisconceptionsAuto portability is a new “automatic” plan feature that is rapidly gaining acceptance by large defined contribution recordkeepers serving almost 10 million participants. While the feature is relatively new, it has received a great deal of attention in the media and has also been the beneficiary of definitive regulatory guidance, promulgated by the Department of Labor (DOL).

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Sep
01
2021

Beware of Second Order Effects for Retirement Savings Public Policies

Second Order EffectsAt first glance, some retirement savings public policies can seem like a sure thing, particularly when they’re based solely upon the benefits that would directly result. However, in the real world, these “first order” effects are inevitably followed by “second order” effects, which can sometimes be antithetical to the policy’s original intent.

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Aug
02
2021

Senate Hearing Reveals Large Employer Support for Auto Portability

Senate_Finance_RSPDuring testimony in a July 28th hearing held by the Senate Finance Committee (Building on Bipartisan Retirement Legislation: How Can Congress Help?), Aliya Robinson, Senior Vice President of Retirement and Compensation Policy for the ERISA Advisory Committee (ERIC), twice voiced her support for auto portability, the new plan feature that automatically moves small balances to the new employer’s plan when participants change jobs.

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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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Feb
12
2021

This One Simple Trick Radically Boosts Financial Wellness!

One Simple Trick401(k) Plan Sponsors: How would you like to radically boost your participants’ financial wellness, increase your plan’s assets, reduce your plan’s costs, and prevent missing participants?

Adopting this one simple and proven trick – retirement savings portability – delivers all this and more!

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Feb
08
2021

Missing Participants: Five Important Considerations for Plan Sponsors

Missing_Carton_Five_ConsiderationsThe problem of missing participants in employer-sponsored retirement plans is one of the most important, yet perplexing issues facing plan sponsors, and for good reason.

Ensuring that participants (or their beneficiaries) receive their benefits is the essence of an employer’s fiduciary responsibility – and missing or unresponsive participants who become separated from those benefits can generate significant risks for plan fiduciaries.

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