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 In previous articles, we’ve discussed the many benefits that occur when participants roll in multiple retirement savings accounts into their current employer’s 401(k) account. Participants benefit from reduced cash outs, lower investment fees and simplified retirement planning. A program of facilitated roll-ins delivers positive results for plans as well, including increased average balances, lower recordkeeping costs and improved retirement readiness metrics.

In his 1/20/16 MarketWatch column (Four New Year’s Resolutions for Retirement Savers), Retirement Clearinghouse CEO Spencer Williams offers four New Year’s resolutions that all 2016 job-changers should take to heart, including:

In his December 1, 2015 article (The unintended consequence of 401(k) auto-enrollment), RCH CEO Spencer Williams exposes the linkage between auto enrollment and lower average account balances.  Based on Form 5500 data, Williams’ analysis presents some excellent examples of industries where average balances are significantly lower in plans that have adopted auto enrollment compared to plans that haven’t. 

In his 11/16/15 MarketWatch article Boomers need to consolidate retirement accounts immediately RCH President & CEO J. Spencer Williams notes that the baby boomer generation, which is closest to retirement age, stands to benefit the most from consolidating their retirement savings, vs. leaving their accounts behind at former employers.

Chris Garza, RCH’s Service and Consolidation Team Manager, provides insight into the top five mistakes that participants make when changing jobs.

We humans are not islands. Everything we do affects the people, neighborhoods and ecosystems around us in some way. One act of kindness for another person can inspire the recipient to perform a good deed for someone else, and through a ripple effect, many others can benefit.

In his 10/2/15 MarketWatch article Let a Roll-in Increase Your Retirement Income, RCH President & CEO J. Spencer Williams advises retirement savers to bring their savings with them, vs. leaving their accounts behind -- or worse, cashing out.

I can still vividly recall the summer afternoon that my mom burst through our front door, anxiously asking where my little sister was.  I was 10 at the time, and my sister was 7.  “She’s in the backyard with her friends….why do you ask?”  One look out the window gave me the answer: our next door neighbor had been changing his oil, when the car slipped off the jack, crushing him beneath its weight.   

Give ‘Em What They Want—And Need!

Warren Cormier, CEO of Boston Research Technologies, recenty published a research study that revealed that a large majority of plan participants are receptive to consolidating their retirement savings accounts in their current plans.