Retirement transition services firm RollOverSystems is renaming itself Retirement Clearinghouse.
The Charlotte company said that the rebranding will come with an expansion of services that help 401(k) sponsors manage costs and complications that arise when workers enter and exit retirement plans.
Retirement Clearinghouse provides services to retirement plan sponsors and their participants. The company says an estimated 9 million workers cash out $74 billion each year from their retirement accounts. The firm says that it can reduce these cashouts and save plan expenses.
Retirement Clearinghouse is owned by RLJ Companies, founded by Robert L. Johnson. Johnson’s portfolio includes businesses operating in hotel real estate investment, private equity, financial services, asset management, insurance services, automobile dealerships, sports and entertainment and video lottery terminal gaming. The RLJ Companies is headquartered in Bethesda, MD. Prior to founding The RLJ Companies, Johnson was founder and chairman of Black Entertainment Television.