Small Accounts (2)
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.
The Auto Portability Imperative
How Auto Portability Serves Participants’ Best Interests: Part 5
In this series, I identify five key reasons why an auto portability program serves the best interests of plan participants.
Previously: In Part 1, I examined the dramatically improved participant outcomes that will result from a program of auto portability. In Part 2, I described how auto portability, by enhancing and extending automatic rollover programs, represents an enhanced standard of participant care. In Part 3, I presented evidence that the adoption of auto portability could lead to a reduction in plan expenses. In Part 4, I addressed how auto portability could enhance 401(k) participants’ financial wellness.
In part 5, my final installment of the series, I explain how auto portability can mitigate retirement-related cybersecurity risks.
How Auto Portability Serves Participants’ Best Interests - Part 4: Auto Portability Enhances Participants' Financial Wellness
In this five-part series, I identify five key reasons why an auto portability program serves the best interests of plan participants. Previously:
- In Part 1, I examined the dramatically improved participant outcomes that will result from a program of auto portability.
- In Part 2, I described how auto portability, by enhancing and extending automatic rollover programs, represents an enhanced standard of participant care.
- In Part 3, I presented evidence that the adoption of auto portability could lead to a reduction in plan expenses.
In Part 4, I address how auto portability could enhance 401(k) participants’ financial wellness.
How Auto Portability Serves Participants’ Best Interests - Part 3: Auto Portability Could Lower Plan Expenses
In this five-part series, I identify five key reasons why an auto portability program serves the best interests of plan participants. Previously:
- In Part 1, I examined the dramatically improved participant outcomes that will result from a program of auto portability.
- In Part 2, I described how auto portability, by enhancing and extending automatic rollover programs, represents an enhanced standard of participant care.
In Part 3, I present evidence that the adoption of auto portability could lead to a reduction in plan expenses.
A New Solution to Tackle the Old Problem of Missing Participants
Despite differences big and small, all retirement plan sponsors and record-keepers experience at least one common problem—the seemingly intractable incidence of participants who have left behind small accounts in the plans sponsored by their former employers and failed to update their address when they subsequently change residence, a.k.a. missing participants.