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BY John Sullivan 4/22/2024
The American Retirement Association has confirmed that the Department of Labor (DOL) will release the fiduciary rule, officially called the Retirement Security Rule, on Tuesday.
Acting Secretary of Labor Julie Su will announce the final regulation in a Treaty Room ceremony at 5 p.m.
It was...
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BY Ted Godbout 4/19/2024
As the SEC ramps up its enforcement of the Marketing Rule’s stricter requirements, a newly released risk alert warns advisers that they are still coming up short in several areas.
Published by the SEC’s Division of Examinations, the alert shares preliminary observations concerning compliance...
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BY John Sullivan and Ted Godbout 4/19/2024
The Department of Labor’s (DOL) guidance to permit bankruptcy trustees to use its Abandoned Plans Program has moved off of the OMB dashboard and is back with the department, signaling the review is complete on the long-awaited release.
A summary description of the proposal explains that the...
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BY John Sullivan 4/19/2024
It’s a bit of a surprise. Ted Benna is joining a fintech.
The man who’s (literally) been in the 401(k) space since the beginning is embracing technology in a bid to help close the coverage gap.
For the one or two retirement plan advisors who don’t know, Benna first identified the 401(k) as a...
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BY Nevin E. Adams, JD 4/19/2024
Well, here we are again at the end of another workweek … and yet, just look at what has happened to these guys and gals…
By now those of you in a number of Midwest and southeastern states know that we’re looking at not one, but TWO broods of cicadas (Broods XIX and XIII) … and maybe another...
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BY Ted Godbout 4/18/2024
Even though the Securities and Exchange Commission has agreed to pause implementation of its recently finalized climate disclosure rule amid the various legal challenges, members of Congress are still moving ahead in an attempt to revoke the rule.
In an April 17 markup session, the House...
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BY John Sullivan 4/18/2024
Relatively few health savings accounts (HSA) are invested, eliminating one of the product’s biggest advantages.
Recent analysis from the Employee Benefit Research Institute (EBRI) finds that only 13% of accountholders invested their HSAs in assets other than cash, suggesting many consumers need...
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BY John Iekel 4/18/2024
The Green Mountain State and the Centennial State are going to partner in establishing VT Saves, the state-run program that will provide retirement plan coverage for private-sector employees in Vermont whose employers do not.
On June 1, 2023, Gov. Phil Scott (R) signed into law a measure creating...
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BY Judy Ward 4/18/2024
Six advisors reveal best practices and secrets to success.
Before becoming an advisor, Matthew Eickman served as legal counsel for plan committees. “So, I had the luxury of being in the room after all the finalist presentations had ended,” Eickman, an attorney who is now national retirement...
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BY Ted Godbout 4/17/2024
An annual study that assesses Americans’ level of financial literacy finds a strong connection between people's retirement fluency and how financially prepared they are for retirement.
For instance, Americans correctly answered an average of only 40% of the retirement-related questions. And among...
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