Consolidation Corner
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Retirement Plan Portability (3)
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.
Auto Portability Is, And Always Will Be, A Bipartisan Solution
With Boston Mayor Marty Walsh’s nomination to become Secretary of Labor advancing through the Senate, the transfer of power in Washington, DC is progressing. Although the Department of Labor is taking direction from a Democratic administration, the solution to the problem of rampant asset-leakage from the U.S. retirement system will remain on track.
This One Simple Trick Radically Boosts Financial Wellness!
401(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!
Nudge Theory can Help Sponsors Strengthen Financial Wellness Initiatives
How Sponsors can Facilitate Better Participant Outcomes—and Improve Plan Metrics—in 2021
Elections Have Consequences—Elect to Help Participants Keep Their Savings, Instead of Losing Their Savings via Mandatory Distributions
Every Dollar Counts in Today’s Zero-Interest-Rate Environment
It’s no secret that interest rates have been at historically low levels for quite some time, but the recent announcement by Federal Reserve Chairman Jerome Powell indicates that rates will stay near zero for the foreseeable future. Chairman Powell stated in his address last month that the Fed would tolerate above-2% inflation instead of attempting to preemptively control inflation by raising interest rates.
How to Mitigate COVID-19’s Potentially Catastrophic Impact on Americans’ Retirement Readiness
It’s bad enough that more than 50 million Americans have filed claims for unemployment benefits since the start of the COVID-19 pandemic and lockdown. But in addition to the disruption, financial hardship, and uncertainty that unemployed Americans (and their families) are experiencing right now, this crisis also threatens their financial security during retirement.
COVID-19 Pandemic Demonstrates the Need for Institutionalized Portability
The 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.
Let’s Extend the Spirit of the CARES Act to Automatic Rollover IRAs
America 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.
How Does Auto Portability Work? Watch the Video.
Looking 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
-
Blog
- 401k Cash Outs
- 401k Consolidation
- 401k Plan Termination
- America's Mobile Workforce
- Assisted Roll-in
- Auto Enrollment
- Auto Portability
- Auto Portability Simulation
- Automatic Roll-In
- Automatic Rollover
- Automatic Rollovers
- Boston Research Technologies
- CARES act
- Common Mistakes
- DIY Roll-In
- DOL Advisory Opinion
- EBRI
- Employee Benefit News
- ERISA Advisory Council
- Financial Services Roundtable
- Financial Wellness
- How-To
- In-Plan Consolidation
- Leakage
- Lifetime Plan Participation
- Lost Participants
- Managed Portability
- Mandatory Distributions
- MarketWatch
- Missing Participant IRA
- Missing Participants
- National Retirement Savings Cash Out Clock
- Participant Transition Management
- PLANSPONSOR
- Portability Services Network
- PSCA
- Public Policy
- RCH Services
- Retirement Income
- Retirement Plan Portability
- retirement research
- Retirement Savings Consolidation
- Retirement Savings Portability
- Roll-In
- Safe Harbor IRA
- Saver's Match
- Security
- Small Accounts
- Stale Dated Checks
- Synthetic Tenure
- Uncashed Check Services
- Uncashed Distribution Checks
- Video
- Webcast
- What is a Missing Participant?