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Ted Godbout

By Ted Godbout | 3/1/2024
While employers strive to address employees’ evolving needs, the results of a new survey find a disconnect between compensation and benefit offerings and employee preferences. Franklin Templeton’s Voice of the American Workplace Survey, now in its fourth year, finds that employee expectations are... READ MORE
By Ted Godbout | 2/29/2024
Final changes to the Department of Labor’s popular Voluntary Fiduciary Correction Program (VFCP) are apparently on the horizon, according to recent comments made by a senior agency official. Speaking Feb. 27 at the U.S. Chamber of Commerce’s Small Business Retirement Summit, Principal Deputy... READ MORE
By Ted Godbout | 2/28/2024
A hearing that was billed as “taking a serious look at the retirement crisis in America” with a focus on improving the defined benefit system ended with witnesses agreeing that some reforms are needed, but calling for drastically different measures. The Feb. 28 hearing was held by the Senate... READ MORE
By Ted Godbout | 2/27/2024
Just as Congress gets ready to debate whether there is a “retirement crisis,” new survey results from an organization supportive of restoring defined benefit plans finds that Americans are increasingly worried about retirement. According to the survey results from the National Institute on... READ MORE
By Ted Godbout | 2/27/2024
Even with other ongoing financial struggles, retirement savers ended the year on a positive note with improved market conditions and consistent contributions helping boost average account balances to their highest level in nearly two years. Indeed, according to the latest data from Fidelity... READ MORE
By Ted Godbout | 2/26/2024
A new study finds that an increasing number of women are feeling financially prepared for retirement thanks to their growing involvement in financial planning. According to the study from Bryn Mawr Trust, gone are the days when women asked others to handle their financial planning, as only 1%... READ MORE
By Ted Godbout | 2/26/2024
To further support growth and education, Voya Financial has announced the expansion of its Employee Success and Education team with the addition of a new Managed Account Specialist team.   Voya notes that year-over-year growth in its managed account solutions is up 28%. And with education being a... READ MORE
By Ted Godbout | 2/23/2024
While the 401k Averages Book has served as a resource for evaluating 401(k) plan fees among large and small plans alike, the newly released 24th edition now includes new benchmarking data on advisor compensation, as well as recordkeeping administration. In responding to the evolving landscape of... READ MORE
By Ted Godbout | 2/22/2024
Amid the recent attacks on the 401(k) savings system, the key Senate committee with jurisdiction over ERISA plans to hold a hearing next week to examine what it describes as “confronting the retirement crisis facing working class Americans.” The Senate Health, Education, Labor, and Pensions (HELP... READ MORE
By Ted Godbout | 2/22/2024
Marking the beginning of integrating RIAs into The Retirement Planning Group (TRPG) under Cetera, the firm announced Feb. 21 that TRPG has acquired Dightman Capital Group based in Overland Park, Kansas. TRPG has acquired 100% of the assets of Dightman Capital Group, which is owned and operated by ... READ MORE
By Ted Godbout | 2/21/2024
Building off its existing small business offerings, HUB Retirement and Private Wealth (HUB RPW), a division of HUB International Limited, announced the launch of the HUB Retirement Select PEP (Pooled Employer Plan). According to the firm’s announcement, it is designed for clients with less than... READ MORE
By Ted Godbout | 2/21/2024
With broker/dealers (B/Ds) actively encouraging their advisors to embrace the retirement plan space, a new report by Cerulli suggests that asset managers will need to adapt their approach to product distribution and advisor support in this evolving intermediary landscape.    In fact, most top-tier... READ MORE
By Ted Godbout | 2/20/2024
TIAA’s default investment solution that provides access to a guaranteed-interest annuity contract has recently grown to more than $30 billion in assets and over 400,000 individual participant accounts across nearly 500 institutional clients, according to a Feb. 20 announcement by the firm. This... READ MORE
By Ted Godbout | 2/20/2024
Congress’ watchdog agency apparently thinks so. That was one of the recommendations in a newly released report by the Government Accountability Office (GAO). A “pension dashboard” could be useful in the United States to help participants track their retirement savings when they change jobs, but... READ MORE
By Ted Godbout | 2/16/2024
Chalk up another win for Pontera in assisting advisors in managing clients’ held-away assets, as the firm announced that CAPTRUST Financial Advisors will roll out its platform. This is the second collaboration announced by Pontera in a matter of weeks, as the firm revealed in late January that it... READ MORE
By Ted Godbout | 2/15/2024
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
By Ted Godbout | 2/14/2024
There apparently is a “disconnect” between financial advisors and their retiree- and near-retiree clients on their retirement readiness, according to the results of a new survey. The survey, conducted by Escalent on behalf of Allspring Global Investments—which for the first time included advisors—... READ MORE
By Ted Godbout | 2/13/2024
While the Department of Labor’s Employee Benefits Security Administration (EBSA) recovered $1.435 billion in direct payment to plans, participants and beneficiaries in fiscal year 2023, that number has been trending downward for the past few years.   According to a fact sheet released by EBSA,... READ MORE
By Ted Godbout | 2/12/2024
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
By Ted Godbout | 2/12/2024
Although collective investment trust (CIT)-based target-date (TD) products were expected to overtake mutual funds in 2023 and didn’t—that may finally change, according to Sway Research’s 2024 State of the Target-Date Market report. Though mutual fund series still possess slightly more assets, CITs... READ MORE

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