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Ted Godbout

By Ted Godbout | 5/23/2019
The federal government’s updated Spring 2019 unified regulatory agenda sheds some light on prospects for the Department of Labor’s next steps on a fiduciary rule revamp.  The DOL’s updated regulatory agenda confirms that the agency has set a target date of December 2019 to issue a Notice of... READ MORE
By Ted Godbout | 5/23/2019
UPDATED: May 24, 2019, at 9:30 a.m. (ET) One of the most consequential pieces of retirement security legislation in more than a decade has been approved overwhelmingly by the U.S. House of Representatives.     In a May 23 House floor debate that featured much praise and few objections, the... READ MORE
By Ted Godbout | 5/22/2019
New data shows that the average balances for self-directed brokerage accounts bounced back from the sharp losses seen at the end of 2018.   According to Charles Schwab’s latest SDBA Indicators Report, which analyzes investment trends from 137,000 retirement plan participants who currently invest... READ MORE
By Ted Godbout | 5/22/2019
An annual 401(k) plan benchmarking report finds that the top five industries with the best plans continue to outpace the competition for the third year in a row.   Judy Diamond Associates’ fourth annual 401(k) Plan Benchmark Report, which tracks the overall performance of plans by industry and... READ MORE
By Ted Godbout | 5/22/2019
Bipartisan legislation calling on the SEC to revise its definition of small businesses to help ensure that the commission more broadly considers the burden of its regulations on small investment advisers has been reintroduced in Congress.   The Investment Adviser Regulatory Flexibility Improvement... READ MORE
By Ted Godbout | 5/21/2019
When it comes to living a comfortable retirement and having enough money to retire, workers throughout the world share many of the same concerns, according to a new global survey.  The most frequently cited retirement concerns are declining physical health (50% global and 44% U.S.) and running out... READ MORE
By Ted Godbout | 5/21/2019
The House of Representatives is moving forward with its promise to approve the Setting Every Community Up for Retirement Enhancement (SECURE) Act during the month of May. On May 21, the House approved on a party-line vote the so-called “rule” for the SECURE Act (H.R. 1994) – a key procedural... READ MORE
By Ted Godbout | 5/17/2019
Changes that don’t have anything to do with retirement might undermine bipartisan support for retirement security legislation. House Majority Leader Steny Hoyer (D-MD) late last month had announced that the House planned to take up the Setting Every Community Up for Retirement Enhancement (SECURE... READ MORE
By Ted Godbout | 5/17/2019
Demand for environmental, social and governance (ESG) strategies is strong among investors and research supports the case for integrating ESG factors into the defined contribution investment decision-making process, yet the industry still appears hesitant, according to two new reports.  In “... READ MORE
By Ted Godbout | 5/16/2019
Bipartisan legislation to create a new federal commission that would study and recommend ways to improve Americans’ retirement security has been reintroduced in the Senate. The Federal Retirement Commission Act, reintroduced May 14 by Sens. Todd Young (R-IN) and Cory Booker (D-NJ), would charge... READ MORE
By Ted Godbout | 5/15/2019
Members of the Senate Finance Committee expressed hope May 14 that Congress would move quickly to approve the long-pending Retirement Enhancement and Savings Act (RESA) before moving to the next round of broader retirement savings reforms.  “I’m hoping that the House will send its version of RESA... READ MORE
By Ted Godbout | 5/15/2019
The pressure to spend because of social media envy and the desire to not be left out of friends’ experiences apparently is leading to some bad financial habits, according to new survey results.  Schwab’s 2019 Modern Wealth Survey finds that more than one-third of Americans admit their spending... READ MORE
By Ted Godbout | 5/14/2019
A key member of Congress has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Sen. Ron Wyden (D-OR), Ranking Member of the... READ MORE
By Ted Godbout | 5/14/2019
Picking up where they left off in the last Congress, the bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin (D-MD) reintroduced their comprehensive “Retirement Security and Savings Act” on May 13.  The 132-page bill includes more than 50 provisions designed to strengthen Americans’... READ MORE
By Ted Godbout | 5/13/2019
Amid rising demand for low-fee options, target date providers are responding by offering inexpensive options like collective investment trusts or launching new lower-cost series that rely on passive funds. And even though assets in target-date mutual funds shrank in 2018 for the first time since... READ MORE
By Ted Godbout | 5/10/2019
Despite a rocky end to 2018 and predictions of an impending recession, those who stayed the course with their 401(k) were rewarded with a generous first quarter rebound and even more impressive 10-year totals on the anniversary of the stock market low. Buoyed by positive stock market performance... READ MORE
By Ted Godbout | 5/9/2019
UPDATED: May 15, 2019 Many pre-retirees still don’t understand how Social Security works and significantly overestimate how much they will receive, suggesting a need for financial advisors to discuss optimizing benefits with their clients. In fact, future retirees expect to receive $1,805 a month... READ MORE
By Ted Godbout | 5/8/2019
The Labor Department and Securities and Exchange Commission aren’t the only ones contemplating a new fiduciary standard. Now the Office of the Comptroller of the Currency (OCC) is considering whether it should update the regulatory definition of “fiduciary capacity” to make it more consistent with... READ MORE
By Ted Godbout | 5/8/2019
Employees who used their financial wellness program on a regular basis improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new, multi-year study.  Financial Finesse’s 2018 Financial Wellness Year in Review highlighting the... READ MORE
By Ted Godbout | 5/8/2019
The key Senate committee with jurisdiction over retirement tax policy issues is turning its attention to reviewing proposals that encourage and facilitate retirement savings.  Sen. Charles Grassley (R-IA), Chairman of the Senate Finance Committee, has announced that the Committee will hold a... READ MORE

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