#SaversMatch: A ‘Force Multiplier’ in the Battle to Improve #Retirement Readiness Key findings from new research indicates that the Saver’s Match Program holds strong potential to be a “force multiplier” in the battle to help America’s under-saved and under-served workers improve their prospects for a secure retirement in at least three measurable ways. These include stimulating more savings through federal matching contributions, incentivizing more contributions from existing savers, and boosting participation in the retirement system from non-savers. Read the full Press Release: https://bit.ly/3Je1XEY
Retirement Clearinghouse
Financial Services
Charlotte, North Carolina 2,257 followers
Moving Retirement Forward
About us
Retirement Clearinghouse (RCH) provides plan sponsors with services that move retirement savings forward as participants change jobs, solving the small account problem. RCH’s solutions deliver plan-to-plan portability, improve participant outcomes, increase average balances and promote retirement readiness. RCH Auto Portability is the enhanced standard of care for an automatic rollover (ARO) program, reducing cashouts by 52%, while helping participants receiving mandatory distributions (<$5,000) consolidate retirement savings into their current, active plan. RCH Managed Portability is for all participants, all balances and relies upon participant consent to consolidate retirement savings. An RLJ company, RCH is based in Charlotte, NC, and is on the web at www.rch1.com.
- Website
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http://www.rch1.com
External link for Retirement Clearinghouse
- Industry
- Financial Services
- Company size
- 51-200 employees
- Headquarters
- Charlotte, North Carolina
- Type
- Privately Held
- Founded
- 2001
- Specialties
- Missing Participant Search, Automatic Rollover IRAs, 401(k) Portability, 401(k) Roll-In Service, Uncashed Distribution Check Service, Terminating 401(k) Plan Service, Auto Portability, and Managed Portability
Locations
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Primary
1916 Ayrsley Town Blvd
Suite 200
Charlotte, North Carolina 28273, US
Employees at Retirement Clearinghouse
Updates
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4 Compelling Reasons for Plan Sponsors to Adopt Auto Portability Writing in 401k Specialist Magazine, RCH's Tom Hawkins offers plan sponsors four compelling reasons to adopt auto portability. Hawkins cites the groundswell of support that #AutoPortability has already received from the retirement industry, from legislators and regulators, as well as the thousands of plan sponsors who have already adopted, advising plan sponsors that they need not fear "being first" when they adopt. By adopting, they'll be acting in their plan's best interests and in the interests of its participants, who've expressed a strong desire for the new feature. Read the full article: https://bit.ly/3XRkBK1
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RCH Receives Top 2024 Workplace Award Retirement Clearinghouse has been named a Top 2024 Workplace in the Charlotte Magazine. This award is based on the feedback gathered through an employee survey that was administered earlier in 2024, where more than 102 employees participated. Being named a Top Workplace is a distinct honor for RCH – only 83 companies made this year’s list. RCH strives to build and maintain a workplace where all employees can feel challenged and rewarded, and based on employee feedback and the award RCH has now received, we feel as though we’re succeeding. See the full list here: https://bit.ly/3Bm3DeY
Top Workplaces in Charlotte - Charlotte Magazine
https://www.charlottemagazine.com
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Safe-harbor IRAs don't offer a long-term saving solution Writing in Employee Benefit News, RCH and PSN President & CEO Spencer Williams reflects on the 20-year history of safe harbor IRAs, which were intended to be "a temporary solution to the problem of too many small, stranded accounts in defined contribution plans." Williams provides readers with examples of the dysfunction that has occurred when safe harbor IRAs have failed to act as long-term repositories of savings, or worse, when participants cash out completely. With the advent of #AutoPortability, Williams maintains that the new auto feature will "allow participants to maximize the time retirement savings are invested in their plan accounts—and minimize the time those balances are languishing in underperforming safe-harbor IRAs along the journey to #retirement." #401k Read the full article: https://hubs.ly/Q02PYRB00
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Measuring the Value of Intensive Missing Participant Searches Inevitably, situations will arise where plan sponsors must perform more intensive #missingparticipant searches, where additional search resources are applied to improve the quality of the search, over and above what an e-Search can deliver. More-intensive missing participant searches can increase the quality of search results, but by how much? As it turns out, quite a bit. RCH’s Tom Hawkins examines almost 7,000 intensive searches and identifies significant improvements in search quality that result. #401k #retirement #HRAdmin #HRBestPractices Read the full article: https://bit.ly/3ZiRotC
Measuring the Value of Intensive Missing Participant Searches
blog.rch1.com
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After 50 years of milestones, the #retirement industry is bracing for yet more innovation Writing in BenefitsPRO on the occasion of National #401k Day, Retirement Clearinghouse (RCH) and Portability Services Network (PSN) President & CEO Spencer Williams takes the long view -- looking back at the 50 years that have elapsed since the passage of ERISA in 1974. As Williams writes, "[m]uch has been accomplished over the previous 50 years, and more innovation is on the horizon" while proceeding to describe the "long and winding road" of innovations that have led to present day. The accumulation of innovative features, asserts Williams, has positioned the industry for the adoption of #AutoPortability, where "people really can take their benefits with them from job to job, and keep their retirement savings vested." Read the full article: https://bit.ly/4eb6Wni
After 50 years of milestones, the retirement industry is bracing for yet more innovation
benefitspro.com
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Four Compelling Reasons for Plan Sponsors to Adopt #401k #AutoPortability by Tom Hawkins of Retirement Clearinghouse https://lnkd.in/eWxQ-bZD
Four Compelling Reasons for Plan Sponsors to Adopt Auto Portability
rch1.com
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Two Saver’s Match Resources Now Available Retirement Clearinghouse (RCH) has launched two new Saver’s Match resources, which offer plan sponsors, plan providers and participants with consolidated information about the #SaversMatch program, as well as a new saver-focused tool – the Saver’s Match Estimator – which will calculate an estimated matching contribution under the program. RCH encourages everyone to use the new tools, and to share them within their network. Read the full article: https://hubs.ly/Q02MxT440
Two Saver’s Match Resources Now Available
rch1.com
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What is the Saver’s Match? Why is the #SaversMatch an Important #Retirement Savings Public Policy Initiative? Why is the Saver’s Match an Improvement Over the Saver’s Credit? Who Qualifies to Receive a Saver’s Match? How Much Are the Matching Contributions That Individuals Can Receive? When Does the Saver’s Match Go into Effect? Get answers now in The Definitive Guide to the Saver’s Match: https://bit.ly/3Ay1xZ8
The Definitive Guide to the Saver's Match
rch1.com