RCH EVP Neal Ringquist, in his 8/4/16 article in 401kSpecialist, addresses the ongoing problem of cashout leakage, which is particularly acute for small balance (less than $5,000) 401(k) accounts. Ringquist identifies the root cause of cashout leakage as the “lack of seamless portability” for those accounts when participants change jobs. Ringquist goes on to discuss the growing awareness of this problem in Washington, DC, including Congress, the President and most recently, the Bipartisan Policy Center. Auto Portability, says Ringquist, is the solution that will most improve the average American’s retirement security – and one that should be acted upon quickly!

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