Media Coverage

Exclusive Interview: Spencer Williams Says Post Separation Leakage “A Huge Problem”

Fiduciary News' Chris Carosa conducts a wide-ranging interview of RCH President & CEO Spencer Williams, gaining Williams' insights on America's 401(k) system, including how he is solving the problem of 401(k) cashout leakage via the RCH Auto Portability program. In the interview, Carosa covers a range of topics, including Williams' background and formative career experiences, the state of the 401(k) system, and of course, specifics about the RCH Auto Portability program and how it will have a positive impact on participants, plan sponsors and providers.

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2 years after its first TV ad, Vanguard's new campaign touts a 'Wonderful World' for investors

The Philadelphia Business Journal's Jeff Blumenthal reports on Vanguard's new television advertising campaign, called "The Value of Ownership" and featuring Vanguard fund investor/owners building their futures, and designed "to celebrate the benefits of its unique corporate structure which makes clients, owners." Blumenthal also notes recent Vanguard Group developments leading up to the advertising campaign, including news that Vanguard "planned to partner with fintech Retirement Clearinghouse to introduce an auto-portability service that allows 401(k) participants to move their account from their old job a new employer's plan automatically."

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Near Retirement Employees Need Account Consolidation Assistance

Writing for 401kTV.com, Steff Chalk, Executive Director of The Retirement Advisor University (TRAU), notes the dilemma facing Baby Boomers -- how can they "be helped to consolidate their savings all in one place to prepare to spend down those assets in retirement?" To help solve this conundrum, Chalk refers to a recent article in Employee Benefit News authored by RCH President & CEO Spencer Williams, and includes Williams' tips for advisers to help participants get savings consolidated, including the use of an external service. Chalk also cites the 2015 study on mobile workforce behaviors, which found that 93% of participants surveyed considered roll-in assistance to be a “good” or “valuable” benefit.

EDITORIAL: Scott plan can help retirees, fill positions

An editorial piece in the Times and Democrat (Orangeburg, SC) opines on the plan recently announced by U.S. Senator Tim Scott (R-SC), to address gaps in the retirement savings system. Scott, who himself has 25 years of professional experience in the insurance and financial services industry, sets forth a series of proposals in his report, which include "codifying auto-portability regulations to prevent leakage." The piece quotes Scott as saying he looks forward "to discussing the reforms and more so we can ensure that all Americans have the tools necessary to retire with dignity and independence during their golden years.”

401k Cashout Leakage, Auto Portability Featured in Senate Committee Hearing

Writing in 401k Specialist Magazine, RCH's EVP of Public Policy Renee Wilder Guerin breaks down the 10/28/21 hearing held by the Senate Special Committee on Aging -- A Financially Secure Future: Building a Stronger Retirement System for All Americans -- and found it to be highly-focused on solving the problems of cashout leakage, as well as advancing its most promising solution, auto portability. Re-capping key testimony and Q&A from the hearing (including excerpted video), Wilder Guerin concludes that lawmakers are more focused than ever on solving retirement savings problems for under-served and under-saved demographic segments.

Senate committee talks retirement system issues, solutions at hearing

Pensions & Investments Washington, DC reporter Brian Croce covers the 10/28/21 hearing by the U.S. Senate Special Committee on Aging. In his analysis, Croce mentions testimony provided by RCH President & CEO Spencer Williams on auto portability, as well as the support expressed for the feature by Ranking Member Sen. Tim Scott (R-SC). Croce writes that Scott also used the hearing to announce the release of a report by his office expressing support for auto portability and other policies.

Senate committee looks at America’s ‘piecemeal’ retirement system

Kathleen Steele Gaivan of McKnight's Senior Living reports on the 10/28/21 U.S. Senate Special Committee on Aging entitled “A Financially Secure Future: Building a Stronger Retirement System for All Americans,” which examined potential solutions to close retirement gaps and expand financial security for America’s workers. Gaivan examines the testimony of key witnesses before the Committee, including RCH President & CEO Spencer Williams, who addressed the need to preserve retirement savings for job-changing Americans, and to encourage the adoption of auto portability.

Solving Cashout Leakage, Auto Portability Featured in Senate Committee Hearing

RCH Executive Vice President of Public Policy Renee Wilder Guerin examines the 10/28/21 hearing held by the Senate Special Committee on Aging -- A Financially Secure Future: Building a Stronger Retirement System for All Americans -- and found it to be highly-focused on the problems of cashout leakage, as well as its most promising solution, auto portability. Re-capping key testimony and Q&A from the hearing (including excerpted video), Wilder Guerin concludes that lawmakers are more focused than ever on solving retirement savings problems for under-served and under-saved demographic segments.