Retirement Clearinghouse Hires Adviser for Consolidating Savings

In his role, Johnson will promote:  

• RCH solutions that enable sponsors of 401(k) and other retirement plans to help employees more easily and prudently save for retirement by consolidating their savings, generally in the workplace, when changing jobs;  
• emerging best practices for plan sponsors to manage retirement plans with greater efficiency, less risk and lower costs; and  
• the advantages of helping participants consolidate workplace retirement savings, including increased savings, fewer cashouts, and greater ease in tracking and managing savings.  

Johnson has more than 30 years of experience as a senior executive in the retirement savings and retirement income industries with Federated Investors, MassMutual Financial Group, and most recently, New York Life Insurance Co.   

According to RCH, each year, an estimated nine million workers enter and exit workplace retirement plans, and often make bad choices about what to do with their savings, such as cashing out, keeping their savings in multiple IRAs, or leaving their 401(k) accounts behind them in their former employers’ plans.    

RCH’s services enable plan sponsors to establish programs that help employees consolidate retirement savings when moving from job to job. The services simultaneously help sponsors manage plan costs and risks.