While the problem is clear and the data is compelling, real change requires more than just building a better mousetrap. Real change requires practitioners to act. Thus far:
- Researchers, think tanks, regulators and policymakers have all voiced support for auto portability
- Three major recordkeepers have partnered to build a large network to facilitate auto portability
The question now is whether the plan sponsor-clients of those recordkeepers will opt to join that network. They can help their participants while also helping the entire national retirement eco-system. Since every trend needs to start with somebody, for me personally, and on behalf of Alight Solutions, I say that we are all-in on auto portability. I hope that you will be too.