In the latest Connect Conversation, NAGDCA Executive Director Matt Petersen speaks with Greg Long, Head of Defined Contribution Public Policy and Public Markets at Alight Solutions, about the challenge of small balance accounts and the role of auto portability in helping participants keep their retirement savings together.
Greg discusses how the Portability Services Network works, the benefits of automatically moving small balance accounts when participants change jobs, and why reducing retirement savings leakage is an important goal for participants, plan sponsors, and the broader defined contribution industry.
The conversation also explores how governmental plans approach small balance accounts, considerations for adopting auto portability, and the potential impact as more record keepers and plans participate in the network.
Click below to watch the episode. Click here to download an auto portability infographic.