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Empower Joins Auto Portability Consortium
The Retirement Clearinghouse-led consortium now includes the country’s four largest recordkeepers.
Publisher’s Note
Truly Participant Focused
Those in the retirement plan industry have recently increased their focus on participants. Retirement plan recordkeepers, investment managers, plan sponsors, and advisers and consultants throw the word “outcomes”...
Retirement Account Balances Down 21% or More in Q3, Fidelity Data Shows
Data from more than 35 million participants in Fidelity accounts shows a steep hit to balances during the market downturn, but the majority of workers (86%) kept their...
Retirement Clearinghouse Partners with Fidelity, Vanguard and Alight on Auto-Portability
The Portability Services Network seeks to make it easier for participants to transfer retirement assets when they change plans.
Senators Introduce Bill to Make Auto-Portability Standard
Backers of the new bill say the legislation would cut red tape and help Americans who change jobs frequently keep control of their retirement savings and investments.
Improving Outcomes | Plan Aggregation
The Full View
The merits of pulling in participants’ external financial information.
How Auto-Portability Can Address the Wealth Gap
Research shows workers who cash out their retirement plan savings could lose roughly 1.5 years of accumulated wages, but auto-portability seeks to make it easier to prevent this.
Vanguard Partners With Retirement Clearinghouse for Auto-Portability Solution
The service is expected to launch for Vanguard's 401(k) plan clients in mid-2022.
Retirement Industry People Moves
Dakota Wealth Management acquires Persimmon Capital Management; Evercore Wealth Management selects new wealth and fiduciary adviser; ISIAH International partners with Hub International and Forest Capital Management; and more.
How to Prevent Retirement Plan Leakage
Educating participants about the importance of remaining committed to retirement savings and of the value of consolidating accounts is a good place to start, experts say.
Exploring the Lost Opportunities of Small IRA Rollovers
Retirement industry experts say automatic portability could be the solution to a pervasive problem.
More Employees are Taking Coronavirus-Related Distributions
The move comes even as an American Consumer Credit Counseling (ACCC) report finds more workers are increasingly confident in their employment stability.
Alight to Offer Retirement Clearinghouse Auto Portability Solution
The RCH Auto Portability service automates the consolidation process for small retirement account cash-outs.
Investment Product and Service Launches
Vanguard modifies managed payout fund; Transamerica launches stable value option for 403(b)s; Fidelity announces health savings mutual funds; and more.
Blockchain and AI’s Role in Retirement Planning
Among the most popular ideas for the use of blockchain is creating verified digital identities for participants, while others hope to use artificial intelligence to scale up personalized...
Editor’s Letter
They Should Take It With Them
Auto-portability can dramatically effect workers’ savings when the person moves from job to job.
Considering Auto Portability Rather Than Small Plan Cashouts
Considering automatically rolling balances from one plan to another for participants who terminate employment with small balances plan sponsors are allowed to cashout, EBRI found additional accumulations over...
DOL Issues Final Prohibited Transaction Exemption for Auto-Portability
Now that participants’ small balances may be automatically transferred to their new 401(k) account, Retirement Clearinghouse expects to see a lot of business.
Rollovers Important to Retirement Income Adequacy
EBRI found a significant difference in retirement deficits when comparing the current environment where defined contribution plan participants rollover their assets versus a hypothetical state where workers never...
2018 Regulatory Highlights for Plan Advisers and Their Clients
The year that was brought significant regulatory developments from the Department of Labor, the Internal Revenue Service, the Securities and Exchange Commission and other government agencies.