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Ted Godbout
By Ted Godbout | 10/3/2017
A positive economic outlook and anticipated sales growth have small business owners considering increases in contributions to their retirement plans, according to the results of an annual survey.Nationwide’s third annual survey of more than 1,000 small business owners finds that 50% of owners who...
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By Ted Godbout | 10/2/2017
To help plan sponsors insure their employees’ data is protected within their retirement plan, new industry best practices for how recordkeepers should report their cybersecurity capabilities to plan sponsors and plan consultants have been developed by the SPARK Institute.“For years plan sponsors...
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By Ted Godbout | 9/29/2017
The U.S. House and Senate both approved legislation on Sept. 28 to expand access by victims of Hurricanes Harvey, Irma and Maria to their 401(k) and similar plans without incurring IRS penalties and taxes, clearing the measure for President Trump's signature.The Disaster Tax Relief and Airway...
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By Ted Godbout | 9/29/2017
Retirement industry leaders appearing at a Capitol Hill event this week generally agreed that building on the existing system would dramatically improve the retirement readiness of Americans throughout the country.In what turned out to be coincidental timing, the Financial Services Roundtable...
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By Ted Godbout | 9/28/2017
Rep. Ann Wagner (R-MO) introduced legislation on Sept. 27 that would repeal the Department of Labor’s fiduciary rule and create a new standard of conduct for brokers and dealers.Wagner has had her sights set on rolling back the fiduciary regulation since 2015, when she first introduced legislation...
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By Ted Godbout | 9/27/2017
DC plans measured as part of the Callan DC Index realized a “healthy” 3.06% in return growth during the second quarter of 2017, reflecting strong equity market performance and the greatest first-half performance since the Index’s inception in 2006.Combined with first-quarter gains, the Index’s year...
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By Ted Godbout | 9/26/2017
With many workers unwilling or unable to retire at age 65 and many more wanting their independence, the notion of “retiring with a gold watch and pension” will no longer be “the” goal by 2027 as more individuals pursue part-time or independent work, according to predictions by a firm that tracks...
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By Ted Godbout | 9/25/2017
Congress has released draft legislation consistent with recent recommendations by the American Retirement Association to expand access by victims of Hurricanes Harvey, Irma and Maria to their 401(k) and similar plans without incurring IRS penalties and taxes.The draft legislation, currently named...
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By Ted Godbout | 9/25/2017
While robo-advisors are rising in popularity and are projected to handle $8 billion of all global AUM by 2020, a new poll finds that a significant majority of Millennials still prefer a real-life financial advisor to make decisions.The poll commissioned by LendEDU shows that a large part of this...
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By Ted Godbout | 9/22/2017
The American Retirement Association is urging Congress to approve legislation providing victims of Hurricanes Harvey, Irma and Maria access to their 401(k) and similar plan savings without incurring IRS penalties and taxes.The ARA has been making the case that legislation should mirror the relief...
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By Ted Godbout | 9/22/2017
With statistics showing women having a longer life expectancy and a significant retirement savings gap compared to men, incorporating good DC plan design and financial wellness programs can help women establish a path for a secure retirement, panelists suggested at a recent policy forum.“The Gender...
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By Ted Godbout | 9/21/2017
A majority of both active and passive portfolio managers believe that the ongoing shift toward passive strategies will continue for many years, new survey results show.To address this ongoing movement, active managers should be experimenting with new products, alternative data sets and other...
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By Ted Godbout | 9/19/2017
While having children leads to a moderate increase in the likelihood of being at risk of retirement preparedness, the influence of children is considerably smaller than other factors, says the Center for Retirement Research at Boston College (CRR).A recent CRR issue brief, “The Impact of Raising...
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By Ted Godbout | 9/19/2017
Suggesting that it’s time to change the return-on-investment (ROI) conversation with respect to financial wellness programs, a recent paper contends that a more effective way to prove a program’s value is by measuring employee engagement.Ernst & Young explains that creating a suite of benefits...
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By Ted Godbout | 9/19/2017
A new report contends that robo-advisors’ “goal-based” advice falls short of a “best interest” standard for fiduciary advice.The paper, “Are Robo-Advisors Fiduciaries?” by attorney Melanie L. Fein argues that only “those investment advisers and broker-dealers whose advice meets the prudent investor...
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By Ted Godbout | 9/18/2017
A federal district court judge has granted summary judgement to participant-plaintiffs in a case where plan fiduciaries failed to comply with their diversification elections in an Employee Stock Ownership Plan (ESOP) prior to the company stock collapsing.In the case (Bryant v. Community Bankshares...
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By Ted Godbout | 9/14/2017
In analyzing relationships between the age structure of the population and investment returns, the researchers found some evidence that a population with more retirees than workers increases the supply of savings and drives down investment returns, according to a compilation of research reviewed in...
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By Ted Godbout | 9/13/2017
Similar to the relief it provided last month to victims of Hurricane Harvey, the IRS announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Irma and members of their families.In Announcement 2017-13, the IRS explains...
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By Ted Godbout | 9/13/2017
While both men and women overwhelmingly agree they are not saving enough for retirement, their overall savings habits and reasons given for not saving enough appear to be starkly different, according to a new study.MassMutual’s internet-based Middle America Men & Women Finances Study polled 1,...
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By Ted Godbout | 9/13/2017
While more Americans are feeling financially secure compared to five years ago, most significantly underestimate their projected life expectancy, how much they will need to cover health care costs in retirement and how much life insurance they will need, according to new survey results.The survey...
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