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Retirement Plan Portability, Consolidation & Automatic Rollover Programs
Helping Retirement Plan Participants Move Their Savings Forward
Retirement Clearinghouse (RCH) is the leading specialist in portability services for plan sponsors, offering RCH PortabilitySM -- the only program proven by the Boston Research Technologies to improve participant outcomes through account consolidation.
Heard About Auto Portability? Visit the Auto Portability page to learn more!
A mobile workforce -- combined with the increasing popularity of employer-sponsored retirement savings plans -- has resulted in an explosion of small-balance accounts.
To plan sponsors, the increase in small-balance accounts means:
- Growth in plan costs (disclosure requirements, recordkeeping costs)
- Increase in fiduciary liability (lost & missing, returned disclosures, leakage/cashouts)
- Decrease in retirement readiness plan metrics (lower average account balance)
The ability for participants to easily consolidate retirement accounts has been demonstrated to mitigate the small account issue. Sadly, the current “do-it-yourself” approach to retirement savings consolidation results in unacceptably-high levels of cash outs, “stranded” accounts and lost & missing participants.
RCH Portability Addresses the Small Account Issue for Plan Sponsors
RCH introduces RCH Portability -- a comprehensive suite of services focusing on portability and moving participants’ 401(k) balances forward, solving the small account issue.
RCH Portability is the only program proven to routinely transfer participants’ balances from one plan to another, when they change jobs, resulting in:
- Higher average balances / increased retirement readiness
- Lower cash out levels
- Fewer lost & missing participants
- Reduced fiduciary risk
Portability Services for All Participants
For active or separated participants and regardless of balance, an RCH Portability program can be tailored to your plan’s needs, while helping ensure that your participants are treated in the most fiduciary-friendly manner possible.
RCH Auto PortabilitySM – For separated participants with less than $5,000, RCH Auto Portability is an enhanced standard of care, applied to an Automatic Rollover (ARO) initiative. Much more than a traditional Automatic Rollover, RCH Auto Portability improves plan metrics and long-term participant outcomes by facilitating consolidation of a Safe Harbor IRA into a participant’s next, current & active retirement savings plan. Process your Mandatory Distributions leveraging RCH -- no traditional ARO program comes close.
RCH Managed PortabilitySM – For all participants and all balance levels, RCH Managed Portability is a consent-driven solution designed to encourage account consolidation. RCH Managed Portability makes the complex simple, and doesn’t require a participant’s balance to leave the plan until their active plan account is located.
Other RCH Services – RCH delivers other, specialized services designed to clean up and improve your plan’s performance, including: