Ted Godbout

Coming slightly more than a month after its first hearing on the Department of Labor’s proposed investment advice fiduciary rule, a second subcommittee of the House of Representatives debated the merits of the proposal, with the battle lines drawn between the two parties.   The Feb. 15 hearing by... READ MORE

While workplace retirement plans are becoming an expectation for employees, the results of a new survey show there are multiple areas where savers are seeking additional support.  In fact, according to Vestwell’s annual Savings Industry Report, four emerging trends for 2024 all point to a growing... READ MORE

While inflation and market volatility eased somewhat over the past year, that hasn’t necessarily resulted in a boost to American workers’ retirement and financial confidence. According to PGIM’s new RetireWell Confidence Index, workers’ retirement and financial confidence have lingered at “below... READ MORE

A powerful group of lawmakers has introduced legislation to help children start saving early for retirement by establishing a savings account for every child in America.  The bicameral 401Kids Savings Act was introduced Jan. 31 in the Senate (S. 3716) by Sen. Bob Casey (D-Pa.), along with Senate... READ MORE

The American Retirement Association (ARA) is calling on the IRS to revise several provisions contained in the proposed long-term, part-time employee (LTPTE) rules for 401(k) plans.  Chief among the ARA’s recommendations is for the IRS to revise the proposed rule regarding vesting service to... READ MORE

With several references made to the movie Groundhog Day, witnesses testifying at a House subcommittee hearing to examine the DOL’s proposed investment advice fiduciary rule suggested the proposal goes beyond its legal authority and called on Congress to act before the guidance ends up in litigation... READ MORE

New results from the Retirement Clearinghouse’s Auto Portability Simulation (APS) model further reveal the potential for auto portability to dramatically increase retirement savings.    Based on new assumptions that increase the model’s predictive accuracy, the firm’s resulting paper—Revisiting... READ MORE

Proposed guidance implementing the SECURE 2.0 Act’s provision providing an exemption for certain automatic portability transactions has moved one step closer to being publicly released.  The Department of Labor on Dec. 5 submitted to the White House Office of Management and Budget for review a... READ MORE

In a positive sign that lawmakers are committed to fixing several errors contained in the SECURE 2.0 Act, the House and Senate have just released a draft technical corrections bill, including changes to allow catch-up contributions and provide parity for Starter 401(k)s championed by the American... READ MORE