Description

This month, CAPTRUST's Jennifer Doss and Audrey Wheat are joined by Neal Ringquist, executive vice president and chief revenue officer for the Retirement Clearinghouse.

In this discussion on auto-portability, Neal emphasizes the advantages and benefits of auto-portability for both the participant and the plan sponsor.

These benefits include:

• Streamlining the system, leading to increased average account balances over time
• Reducing administrative hassles associated with managing multiple accounts
• Reducing cash-out leakage, especially for individuals with lower incomes
• Improving retirement outcomes for participants by retaining balances

In Minute with Mike, Mike Webb talks about retirement plan eligibility for part-time employees.

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