A March 2021 Retirement Clearinghouse (RCH) study  examines the ongoing impact of a program of retirement savings portability at a mega 401(k) plan sponsor, and finds persistent benefits, including significant and measurable impacts on participants' financial wellness.

This research picks up where the March 2013 Boston Research Group case study left off, examining the long-term impact of a program of retirement savings portability.  The study examines over 700,000 terminated participant decisions over an 8-year period, from 2013-2020.

Key findings of the study:

  • Reductions in cashouts, which were halved in the original 2013 study, have been persistent, and even improved.
  • Further cashout reductions were observed for participants with lower balances and for participants ages 21-40.
  • Levels of account consolidation both into and out of the plan have increased.
  • Through cashout reductions and consolidation, participants have realized significant, measurable benefits, positively impacting their financial wellness.

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