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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.


Jun
02
2020

COVID-19 Pandemic Demonstrates the Need for Institutionalized Portability

ebn logoThe COVID-19 crisis has created a situation where tens of millions of American workers are in danger of seeing their retirement savings depleted. In addition to the awful death toll, the COVID-19 outbreak has led to extreme disruption in daily life, financial markets, and the economy—especially employment. As of May 28, more than 40 million Americans filed claims for unemployment benefits in the previous 10 weeks. This deadly combination of 1) levels of unemployment not seen since the Great Depression, 2) a significant market downturn, and 3) the ongoing plan-to-plan portability gap, has serious implications for these Americans’ retirement outcomes.

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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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Feb
25
2020

New Research Confirms Clear Shift Towards Plan-to-Plan Portability

Shift New Research Confirms Clear Shift Towards Plan-to-Plan PortabilityIncreasingly, 401(k) plans have become more-and-more “institutionalized” – reflected by an increased level of sophistication in investment options, coupled with a downward trend in fees. 

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Feb
20
2020

Video: Is Auto Portability the Next 401(k) ‘ESG’ Initiative?

Is Auto Portability the Next 401(k) ‘ESG’ Initiative?

Three recent developments indicate that the retirement industry is waking up to the need to address 401(k) cashout leakage, and importantly – from within the framework of corporate social responsibility.

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Feb
10
2020

How Socially Responsible Corporations Will Solve the 401(k) Cashout Crisis

RetirementSavingsEvery year a silent, slow-motion train wreck occurs in America’s 401(k) system, when millions of job-changing workers prematurely cash out billions of dollars in retirement savings, a phenomenon known in retirement industry lingo as “cashout leakage."
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Jan
29
2020

The New Age of DC Plan Portability

The New AgeA recent survey of defined contribution (DC) plan sponsors found that interest in retaining assets for retirement is on the rise. That finding, paired with certain provisions of the SECURE Act of 2019, suggests that DC plans are on a path to becoming “decumulation vehicles” for American retirees. While these developments are encouraging, persistently high levels of cashout leakage, increasing missing participants and other factors produce understandable pessimism regarding the future of DC plans. 


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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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Oct
28
2019

The Playbook for Conducting Diligent Missing Participant Searches

The PlaybookSponsors of active retirement plans are increasingly challenged by the problem of missing participants, and the difficulties they face in performing diligent searches.  After all, ensuring that plan participants (or their beneficiaries) receive the benefits they’re owed is a sponsor’s primary fiduciary responsibility.

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