Larger 401(k) Plans Embrace Auto Portability as Due Diligence Drives Confidence
Since late 2023, when auto portability – as delivered via the Portability Services Network (PSN) – became operational, the new plan feature has been steadily working its way from an innovative concept into a core best practice for addressing the chronic problem of retirement plan cashout leakage. What’s becoming increasingly clear is that larger 401(k) plans are now joining the movement in meaningful numbers. That shift represents an important inflection point: one where cautious, scale‑focused plan sponsors are completing their due diligence and becoming confident that auto portability delivers real, measurable value to participants without introducing unnecessary risk.
PSCA National Kicks Off with a Look Inside Washington
Reporting on Day 1 of the 2026 PSCA National Conference, ARA Chief Content Officer John Sullivan recaps the action, which included a roundup of the latest retirement policy developments. Led by PSCA Executive Director Will Hansen, the session addressed key legislative initiatives that should be top-of-mind for plan sponsors. Hansen urged plan sponsors to have four takeaways, which included the confirmation of their recordkeeper's ability to accept Saver's Match contributions, as well as the need to evaluate auto portability -- a "hot topic" that Hansen believes could eventually become a mandate, and "would reduce leakage, missing participants, and the fraud surface area created by mailed checks."
You could be losing thousands every time you change jobs
Writing in the Washington Post, personal finance report Michelle Singletary -- author of the nationally syndicated personal finance column “The Color of Money” -- addresses the problem of small-balance 401(k) cashout leakage, its disproportionate impact on minorities, and the solution afforded by auto portability, as delivered by the Portability Services Network (PSN). Singletary turns to visionary entrepreneur Bob Johnson, Chairman of both Retirement Clearinghouse (RCH) and PSN, to understand the genesis of the innovative service, a "game changer because it simplifies the movement of retirement assets." Singletary also quotes RCH & PSN CEO Spencer Williams on the mechanisms underlying auto portability, as well as turning to Vanguard's Fiona Grieg, global head of investor research and policy for her views. Singletary closes by stating that auto portability is "a brilliant plan that can help create legacy wealth for so many families."
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Changing Jobs and Tempted to Cash Out Your 401(k)? Read This First (Future You Will Thank You)
Writing In Kiplinger.com, Retirement Clearinghouse (RCH) and Portability Services Network (PSN) CEO Spencer Williams addresses how the retirement industry is working to improve outcomes for the millions of annual job-changing 401(k) participants with small balances via auto portability, as delivered by PSN. Williams' piece cites detailed data on the phenomenon of systemic friction, the prevalence of job-changing and the incidence of cashout leakage, while addressing the reality behind so-called "forgotten accounts." Williams identifies auto portability as a viable solution to preserving 401(k) savings, and closes by observing: "[t]he real forgotten 401(k) problem is less about millions of Americans losing track of their savings, and more about whether the system makes it unnecessarily difficult to keep those savings consolidated."
Retirement Industry People Moves
PLANSPONSOR's Emily Boyle, covering significant people moves in the retirement industry, reports that "Steve Holman joined [RCH] as Senior Vice President of the Portability Services Network Strategy and Development, reporting to Neal Ringquist, RCH’s executive vice president and chief revenue officer. Holman will be responsible for accelerating plan sponsors’ adoption of automatic portability." Boyle also notes Holman's prior service as board member of PSN, representing Vanguard.
Ringquist Brings a PSN Ally into RCH
The 401kWire's Selma Khenissi covers RCH's recently announced hiring of Steve Holman, formerly of Vanguard, to serve as the Senior Vice President of Portability Services Network (PSN) Strategy & Development, reporting to Neal Ringquist, EVP & Chief Revenue Officer. According to the piece, Holman's role is to accelerate the adoption of auto portability, and his prior role with Vanguard and service on the PSN board uniquely positions him for success. Khenissi includes quotes from Ringquist, RCH's President & CEO Spencer Williams, as well as Holman, what states that "PSN Auto Portability is the long-awaited solution for closing our country's retirement savings gap."
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Millions lose track of their retirement savings. This plan wants to change that
EBN's Jimmy Nesbitt investigates the recent RCH whitepaper advocating for building out retirement industry clearinghouse infrastructure, and turns to author Spencer Williams, CEO of Retirement Clearinghouse and the Portability Services Network. Williams states that the purpose is to "keep people's savings intact. From a benefits perspective, nothing could be more clear, and it doesn't cost an employer one red cent." Nesbitt's piece also quotes PSN member TIAA's statement expressing support for auto portability, which Nesbitt notes is core technology for the clearinghouse expansion plan "which automatically moves a worker's retirement savings from an old employer's plan into a new one."
Policy Experts See Trump Accounts as Future Hub for Rollovers
Writing in PSCA News, Paul Mulholland explores the potential implications of integrating Trump Accounts into our retirement system, "such as using them to assist in account consolidation and to increase uptake of the Saver’s Match." Mulholland turns to policy experts, including RCH's Neal Ringquist, who opines that "a lot would have to change legally for Trump accounts to be used" for consolidation purposes. As it pertains to the Saver's Match, Ringquist notes that "the $1,000 seed money contributions for Trump accounts can add interfacing experience between the Treasury Department and financial institutions which will be helpful in implementing the Saver’s Match."
