Consolidation Corner
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Blog
- 401k Cash Outs
- 401k Consolidation
- 401k Plan Termination
- America's Mobile Workforce
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- Automatic Roll-In
- Automatic Rollover
- Automatic Rollovers
- Boston Research Technologies
- CARES act
- Common Mistakes
- DIY Roll-In
- DOL Advisory Opinion
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- ERISA Advisory Council
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- How-To
- In-Plan Consolidation
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- 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
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- Public Policy
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- Retirement Savings Portability
- Roll-In
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- Stale Dated Checks
- Synthetic Tenure
- Uncashed Check Services
- Uncashed Distribution Checks
- Video
- Webcast
- What is a Missing Participant?
Safe Harbor IRA
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.
Five Reasons Why New 401(k) Auto Portability Legislation is So Important
A newly proposed bill -- the Advancing Auto Portability Act of 2022, co-sponsored by Senators Tim Scott (R-S.C.) and Sherrod Brown (D-Ohio), will offer tax credits to plan sponsors who implement auto portability, and codify rules for an industrywide auto portability network. The bill is expected to be rolled into the Senate version of the bipartisan Securing a Strong Retirement Act of 2022, which passed the U.S. House of Representatives on March 29 of this year.
Here are five reasons why the new auto portability legislation introduced in the Senate is so important.
Auto Portability 2019: The Year in Review
At Retirement Clearinghouse (RCH), we’re excited about the 2020 prospects for auto portability. Before we’re too far into a new decade, we wanted to pause, take a breath and share with you some highlights from 2019, a year that’s positioned the newest automatic, default plan feature for widespread adoption.
Safe-Harbor IRAs are Supposed to be Temporary
What is Auto Portability? It Depends on Who’s Asking.
With the announcement of the Department of Labor’s recent actions, auto portability has taken center stage in the retirement industry. While auto portability has been well-known to a relatively small group of industry insiders, its recent, widespread coverage in the media has many asking the question “what is auto portability?”
With so many different -- and important -- perspectives on the matter, the best answer will depend on who’s asking the question.
A Tale of Two 401(k) Balance Segments
It was the best of times, it was the worst of times.
For job-changing 401(k) participants with balances greater than $15,000, it was the spring of financial wellness, as the bulk of their retirement savings would remain intact. For less-aristocratic 401(k) savers with balances below $15,000, it was the winter of despair, as most of their savings would be lost on the cashout chopping block or forcibly exiled to a safe harbor IRA, where more savings would perish.
401(k) Consolidation: What Every Plan Sponsor Should Know
Plan sponsors intuitively know that an explosion of small-balance 401(k) accounts held by terminated participants can create problems. Unfortunately, few sponsors are clear on the factors that give rise to small accounts, and fewer still understand how they can utilize consolidation programs to solve the problem.
The Results Are In: Auto Portability is a Winner!
On November 7th, Retirement Clearinghouse (RCH) issued a press release announcing the results of the first-ever implementation of auto portability, as evaluated by Boston Research Technologies (BRT)’s Warren Cormier in his just-published white paper “Making the Right Choice the Easiest Choice: Eliminating Friction and Leaks in America’s Defined Contribution System.”
A Big Step Forward for Auto Portability
On July 11th, 2017, a small group of retirement services professionals at Retirement Clearinghouse (RCH) successfully conducted the first-use of a new and important financial technology. Known as “locate & match” -- the technology represents a breakthrough in the ability to automatically move small balances forward in America’s defined contribution system, and forms the backbone of RCH Auto Portability.
Why America’s Retirement Savings Needs Recycling
As we marked the 47th annual Earth Day on April 22nd, we were once again reminded of the need to protect our environment. This heightened awareness is testament to how far Americans have come in both recognizing and curbing the wasteful, destructive behaviors that emerged in the decades following World War II. Those excesses have given rise to conservation and environmentalism, and were heralded by the first Earth Day in 1970.
The African-American Retirement Crisis: How Auto Portability Can Help
Today, many Americans are hard-pressed to set aside enough savings for a timely or comfortable retirement. The factors most-often cited as driving the coming “retirement crisis” include longer life expectancies, rising healthcare costs and stagnant incomes. The African-American community faces these same challenges plus other economic headwinds, but with larger hurdles to overcome to secure a comfortable retirement.
-
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 Savings Consolidation
- Retirement Savings Portability
- Roll-In
- Safe Harbor IRA
- Security
- Small Accounts
- Stale Dated Checks
- Synthetic Tenure
- Uncashed Check Services
- Uncashed Distribution Checks
- Video
- Webcast
- What is a Missing Participant?