Ted Godbout

By Ted Godbout 12/21/2022

Rep. Andy Barr (R-KY) and Sen. Mike Braun (R-IN) have introduced a Congressional Review Act (CRA) measure in the House and Senate, respectively, to nullify the Department of Labor’s recently finalized rule to greenlight environmental, social and governance (ESG) investing in federal pension plans... READ MORE

What Else Is in the New SECURE 2.0?

By Ted Godbout 12/21/2022

There’s a lot still to unpack in the new SECURE 2.0 Act of 2022, but 24 hours after its publication, here are some additional highlights. First off, it’s worth reiterating that the legislation still needs to be approved by both the House and Senate, and signed by President Biden. At this point,... READ MORE

How 401(k) Participant Engagement Matters — a Lot

By Ted Godbout 12/19/2022

A new study finds that engaged 401(k) plan participants are saving at significantly higher rates than that of unengaged participants, demonstrating that getting people involved in their retirement planning is a key component of driving better outcomes. According to Empower’s second annual... READ MORE

Plan Sponsors Prioritizing 401(k) Plan Design

By Ted Godbout 12/19/2022

As the economic climate becomes more complex, plan design has emerged as a differentiator to help drive employee enrollment and support the company’s talent strategy, according to new research. Because 401(k) plans continue to be an essential workplace benefit, plan sponsors are emphasizing the... READ MORE

Employers Focused on Maintaining Benefits, Amid Recession Fears

By Ted Godbout 12/13/2022

A new survey finds that, while most small and midsized U.S. businesses and their employees believe a recession is likely in 2023, most business owners continue to invest in their employees, electing to avoid salary or benefit reductions. Instead, businesses are choosing to reduce other operating... READ MORE

CFP Board Warns of Crypto’s ‘Heightened Risks’

By Ted Godbout 12/13/2022

The Certified Financial Planner Board of Standards (CFP Board) has released a new guide about cryptocurrency-related assets to help CFP professionals uphold the Code of Ethics and Standards of Conduct (Code and Standards) in their practices. While the same standards apply to cryptocurrency-related... READ MORE

Volatile Markets Whack Self-Directed 401(k) Investors

By Ted Godbout 12/12/2022

The average account balance for retirement plan participants who invest through self-directed brokerage accounts (SDBAs) suffered further losses through the third quarter. According to Charles Schwab’s SDBA Indicators Report, the average account balance across all plan participant investment... READ MORE

Younger 401(k) Participants Not Shying Away from Equities

By Ted Godbout 12/12/2022

Market volatility and pandemic fears apparently were not enough to scare away younger 401(k) plan participants from investing in equities. According to a new joint study from the Employee Benefit Research Institute (EBRI) and Investment Company Institute (ICI), younger participants—as a group —... READ MORE

Institutional Investors: Bonds Back, Crypto Out, More Volatility Ahead

By Ted Godbout 12/12/2022

Given expectations of higher interest rates, inflation and volatility, institutional investors enter 2023 with a gloomy view of the economy, but they do still see opportunities in the market, according to new survey findings. Natixis Investment Managers (Natixis IM) surveyed 500 institutional... READ MORE

Self-Directed Investors Stay the Course, Eye Future Market Rebound

By Ted Godbout 12/12/2022

Rising inflation and stock market volatility are weighing heavily on self-directed investors, but few have moved money out of stocks or bonds, and instead appear to be tightening their budgets. This is according to findings from Janus Henderson Investors’ 2022 Retirement Confidence Report, which... READ MORE

Well-Designed Apps Crucial for Younger Investors

By Ted Godbout 12/8/2022

Mobile apps increasingly have become the first resource that investors consult to review their investments, make transactions and conduct research, positioning digital as a critical component of the wealth management client experience, a new study suggests. According to J.D. Power’s 2022 U.S.... READ MORE

Informal DOL Guidance Addresses PEP Bonding Requirements

By Ted Godbout 12/7/2022

An information letter recently released by the Department of Labor addresses the application of ERISA’s bonding requirements to a pooled employer plan (PEP) established under the SECURE Act. More specifically, the letter clarifies that the application of the bonding requirements to employees of... READ MORE

DOL’s Walsh Calls for Expanded Retirement Savings Access

By Ted Godbout 12/5/2022

Outlining various priorities of the Department of Labor, Secretary of Labor Marty Walsh called on policymakers and industry stakeholders to work together to expand access to retirement savings plans, particularly for those in underserved communities. Speaking Dec. 1 before EBRI’s 2022 Retirement... READ MORE

What’s Shaping the U.S. Retirement Landscape in 2023?

By Ted Godbout 12/5/2022

T. Rowe Price's new U.S. retirement market outlook examines three broad trends the firm suggests continue to shape the retirement outlook for millions of Americans who are saving and investing for retirement. Specifically, the firm’s 2023 retirement outlook looks at the following: Retirement... READ MORE

Graff Still Bullish on SECURE 2.0 Prospects

By Ted Godbout 12/1/2022

With speculation running rampant on whether Congress will approve the SECURE Act 2.0 in the remaining days of the 117th Congress, we sat down with American Retirement Association CEO Brian Graff to get his take on what he sees happening, and what advisors and plan sponsors should be considering. ... READ MORE

What’s Shaping the U.S. Retirement Landscape in 2023?

By Ted Godbout 11/29/2022

Savings Rates Stay Strong

By Ted Godbout 11/29/2022

Despite ongoing market volatility and growing financial concerns, one area in which many plan participants have yet to put the brakes on involves saving for retirement. Although average account balances decreased, data from Fidelity’s third quarter, 2022 retirement analysis suggests that... READ MORE

ARA Presses DOL for Changes to QPAM Exemption Proposal

By Ted Godbout 11/22/2022

The American Retirement Association (ARA) is calling on the Department of Labor (DOL) to make changes to its proposed amendments to the Qualified Professional Asset Manager (QPAM) exemption, arguing that, as currently drafted, the proposal would needlessly disrupt plan relationships and increase... READ MORE

Small Businesses Fall Behind in Providing Financial Support

By Ted Godbout 11/22/2022

A U.S.-focused analysis of the 2022 Global Financial Inclusion Index, sponsored by the Principal Financial Group and conducted by the Centre for Economics and Business Research (Cebr), reveals a clear association between business size and what financial support businesses provide their employees... READ MORE

Retirement Plans Remain ‘Critical Component’ in War for Talent

By Ted Godbout 11/18/2022

While the broad scope of workplace benefits continues to evolve, findings from a new consumer research survey reveal that an employer-sponsored retirement plan is just as important for employee retention as a competitive salary and flexible work arrangements. Specifically, the research from Voya... READ MORE

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