Spencer Williams

If plan sponsors don’t use technology to create seamless plan-to-plan portability, they risk turning their accounts into islands cut off from other retirement plans.

Pension account auto-portability can provide security to millions of retirement-savers across America.

Pension account auto-portability can provide security to millions of retirement-savers across America.

Plan sponsors should end automatic cash-outs, offer roll-ins as part of a financial wellness program and engage all participants on crucial decision-making.

Workers often don’t aggregate old retirement savings plans at new jobs, leaving behind orphaned accounts that need attention.

The fewer systems where a 401(k) participant has an active account, the less likely that employee’s sensitive data will be compromised.

A lack of widespread auto-portability in the present U.S. retirement system is causing many plan sponsors to pay plan cash-outs to terminated employees.

A lack of widespread auto-portability in the present U.S. retirement system is causing many plan sponsors to pay plan cash-outs to terminated employees.

The sheer number of modest, inactive 401(k)s — along with the friction in the industry that makes it difficult to seamlessly transfer the balances from plan to plan as participants change jobs — is causing a lot of undue stress.

The sheer number of modest, inactive 401(k)s — along with the friction in the industry that makes it difficult to seamlessly transfer the balances from plan to plan as participants change jobs — is causing a lot of undue stress.