Auto Portability in the News
Browse the most comprehensive collection of articles in the media that feature auto portability.
From Tired to Inspired: A Roadmap for 401(k) Roll-Ins
In his latest article in RCH's Consolidation Corner, RCH's Tom Hawkins walks readers through a "roadmap" for the progression of 401(k) roll-ins from ‘tired’ to ‘wired’ and finally, to the ‘inspired’ state that will eventually characterize 401(k) plan-to-plan portability. The article also includes a video providing viewers with the key points made in the article.
Automated 401k Portability: An Idea Whose Time Has Come
Writing in 401k Specialist, RCH's Tom Hawkins examines the vital importance of automation in transforming 401(k) portability from an impractical “great idea” into a reality – and not just for small-balance participants, but eventually for the entire 401(k) ecosystem – including participants, plan sponsors and their service providers.
Every Dollar Counts in Today’s Zero-Interest-Rate Environment
In his latest piece for the RCH Consolidation Corner blog, RCH President & CEO Spencer Williams analyzes the phenomenon of low interest rates and its long-term effects on retirement savers. Williams observes that, in a low interest rate environment, more savings are required to generate an equivalent amount of retirement income, so avoiding unnecessary cashout leakage is paramount. To achieve this goal, Williams urges plan sponsors to adopt auto portability, a technology solution that's "available to help sponsors make every dollar count for participants during these extraordinary times."
Automated 401(k) Portability: An Idea Whose Time Has Come
Writing in the RCH Consolidation Corner blog, Tom Hawkins examines the vital importance of automation in transforming 401(k) portability from an impractical “great idea” into a reality – and not just for small-balance participants, but eventually for the entire 401(k) ecosystem – including participants, plan sponsors and their service providers.
Mitigating COVID-19’s catastrophic impact on retirement readiness
Writing in Employee Benefit News, RCH President & CEO Spencer Williams addresses the urgent need to mitigate the impact of COVID-19 on Americans' retirement readiness. Williams observes that the surge in pandemic-driven unemployment, the relaxed restrictions on withdrawals, along with a pre-existing propensity to cash out -- spells trouble for retirement security. To help address the growing threat, Williams urges sponsors and recordkeepers to adopt auto portability, which he states will "discourage participants from cashing out, but also eliminate the need for automatic cash-outs."
Why ‘Sudden Money’ and Preserving 401k Assets Don’t Mix
Writing in 401k Specialist, Tom Hawkins establishes a strong link between the phenomenon of ‘sudden money’ – where a financial windfall can result in ruinous decisions – and the problem of unnecessary 401(k) cashout leakage. 401(k) plan features that encourage active plan participants to amass long-term retirement savings are a big success, but fail following a job change, when separated participants view their former employer’s balance as a financial windfall. To address the scourge of sudden money and its attendant cashout leakage, Hawkins examines 3 ‘faux’ solutions that fall short, and recommends the application of clearinghouse principles to effectively solve the problem.
‘Sudden Money’ and Preserving 401(k) Savings Don’t Mix
Writing in RCH’s Consolidation Corner blog, Tom Hawkins establishes a strong link between the phenomenon of ‘sudden money’ – where a financial windfall can result in ruinous decisions – and the problem of unnecessary 401(k) cashout leakage. 401(k) plan features that encourage active plan participants to amass long-term retirement savings are a big success, but can suddenly fail following a job change, when separated participants can view their former employer’s balance as a financial windfall. To address the scourge of sudden money and its attendant cashout leakage, Hawkins examines 3 ‘faux’ solutions that fall short, and recommends the application of clearinghouse principles to effectively solve the problem.
Fintech Firm Announces $4 Million Expansion in Charlotte
In their "Five Things to Know" weekly update, the Queen City Nerve reports on the news that RCH will be "adding 300 new employees and investing more than $4 million to expand their headquarters and corporate office in Charlotte." The segment also mentions RCH new office in the Ayrsley development in the Steele Creek community, and references the market potential of auto portability, estimated by EBRI to generate an additional $2 trillion in retirement savings.
1916 Ayrsley Town Boulevard