Not rolling defined contribution (DC) plan assets into an IRA or another DC plan has a very material impact on retirement deficits, an Employee Benefit Research Institute (EBRI) study found.
Tag: retirement plan auto-portability
Jana Steele, senior vice president and researcher for Callan, says auto-portability is the next natural extension of highly successful plan design innovations from the past decade.
The agency says plan sponsors have fiduciary responsibility for selecting and monitoring Retirement Clearinghouse’s Auto-Portability Solution, but once assets have been transferred from a plan sponsor’s retirement plan, it is no longer a fiduciary with respect to those assets.
The agency is inviting public comment on the proposed exemption and encourages additional proposals.