Ted Godbout

In recognition of HSA awareness day, Oct. 15, a new study by the Employee Benefit Research Institute on ways account holders use their HSAs finds that the average account balance rose by more than a third in 2020. Continuing a trend from previous years, the average HSA balance rose from $2,412 at... READ MORE

Fueled by strong market gains, HSA investment assets were up 73% year-over-year, soaring to more than $30 billion at the halfway mark of 2021, according to Devenir’s semi-annual health savings account report.  Devenir also found that there is now nearly $93 billion in more than 31 million HSAs—a... READ MORE

Lisa Gomez, who was nominated to serve as Assistant Secretary of Labor for the Employee Benefits Security Administration, tackled a wide range of issues during her Oct. 7 Senate confirmation hearing.  Appearing before the Senate Health, Education, Labor & Pensions Committee, Gomez told members... READ MORE

In response to an increased threat of retirement account fraud, nearly a third of recordkeepers expect to boost their cybersecurity staff going forward, a new report from Cerulli finds.  Even though plan providers have always been subject to cyberattacks, this is an issue that has become more... READ MORE

As their sense of responsibility grows in supporting the financial needs of their workforce, employers apparently are offering more robust and wide-ranging workplace benefits, according to new survey results.  “We are seeing the number of employers who offer comprehensive workplace benefits... READ MORE

Mega-Roth, backdoor IRAs and large retirement account balances would be limited under legislation approved Sept. 15 by the House Ways and Means Committee. In a near party-line vote of 24-19, the changes were approved as part of the $3.5 trillion Build Back Better Act reconciliation recommendations... READ MORE

As asset management firms compete for assets in a primarily virtual environment, data can help distribution teams increase productivity by identifying the next best opportunities, but system integration and data sourcing remain challenges for many firms, according to a new report by Cerulli.  When... READ MORE

New survey results find that 401(k) plan sponsors using a single recordkeeper to manage multiple retirement plans report better overall time savings and fewer administrative drawbacks than sponsors using multiple providers.   Depending on the type of plan, sponsors using one recordkeeper were... READ MORE

Noting that it would add trillions of dollars in retirement savings and would help close the coverage gap, the American Retirement Association has offered its support for the retirement provisions contained in the Build Back Better Act, set to be considered by the House Ways and Means Committee... READ MORE