Retirement Clearinghouse LLC announced it is expanding its presence in Charlotte, adding 300 new employees and investing more than $4 million to expand their headquarters and corporate office in Charlotte.
Founded in 2001, Retirement Clearinghouse (RCH) provides retirement asset portability services to employees as they move their retirement savings from one employer plan to another. RCH leverages innovative financial technology to simplify and streamline the process of consolidating retirement savings accounts for 6 million of the nation’s employees. Through its existing partnerships with 401(k) recordkeepers, third-party administrators, and plan sponsors in more than 28,000 company retirement plans, RCH reduces employee cash-outs by 52 percent, thus enhancing the retirement income security for U.S. workers. For more information, please visit Retirement Clearing House.
“We look forward to fulfilling our long-term goal of preserving retirement savings for millions of working Americans,” said Spencer Williams, Founder, President, and CEO of Retirement Clearinghouse. “We are proud to continue our growth right here in Mecklenburg County, where our company was founded.”
The company will be moving into a new office in the Ayrsley development in the Steele Creek neighborhood of South Charlotte. Available roles will primarily be in information technology, call center, and client and stakeholder services with additional jobs available for human resources, finance, administrative, and management staff. The average salary for the new positions will exceed $72,000.
The company’s services align well with the City of Charlotte’s initiatives and mission to improve economic mobility. The potential benefits of Retirement Clearinghouse’s auto portability solution are staggering and, according to the Employee Benefit Research Institute, could generate an additional $2 trillion in retirement savings, helping build wealth over the course of multiple generations. For more information, please visit Retirement Clearing House Auto Portability.
“This is great news for our city, as another successful company continues to expand and thrive in Charlotte,” said Mayor Vi Lyles. “Retirement Clearinghouse LLC provides a vital service for retirement planning and I know it will fit in well with business development initiatives in Steele Creek and South Charlotte.”
The project was a collaborative effort between the City of Charlotte, the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina Community College System and the Charlotte Regional Business Alliance.
This announcement builds on the momentum over the past two years of growth in technology. Most recently, the City of Charlotte announced that Centene Corporation is establishing its East Coast headquarters in University City.