BET Founder Bob Johnson Says This 401(k) Program Would Generate $191 Billion in Retirement Savings for Black Workers…

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“Years in the making, the Retirement Clearinghouse Auto Portability program is now live for 401(k) record-keeping for large companies. Alight Solutions will lead the national launch of the program,” Black Enterprise reports.

“The plan makes it easier for American workers to move 401(k) assets from one employer plan to another, thus reducing premature cash-outs, preserving retirement savings, and improving financial well-being, according to a news release. Auto portability protects retirement savings for employees most vulnerable to cashing out, particularly Black and Hispanic workers.”

 

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