Retirement Clearinghouse: Serving The Needs of HCA's In-Transition 401(k) Participants
Retirement Clearinghouse (RCH) is in business to help you, a retirement plan participant who is in transition from one job to another.
America's defined contribution retirement savings system is great at encouraging participation and retirement savings, but it doesn't always work smoothly when people change jobs. This is a problem, considering that the average American changes jobs 7.4 times, in a 40-year career.
Because it's not easy to move money from one retirement plan to another, participants often "cash out" their retirement savings, or leave one or more 401(k) accounts at a former employer(s). Why? Because job changers typically have little access to assistance, and all-too-often will take the path-of-least-resistance: cashing out, or leaving accounts “stranded.” The vast majority of those who cash out regret this decision later, and those who leave "stranded" accounts will face a more complex and potentially costly retirement savings picture.
RCH helps solve these problems by delivering personal assistance at the time-of-separation, offering plan participants a means to consolidate their retirement savings accounts WITHIN the retirment plan system, if appropriate.
One Individual, One Account
RCH adheres to a philosophy of "one individual, one account" and offers programs that emphasize this approach to workplace retirement savings.
