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Ted Godbout
By Ted Godbout | 5/11/2023
Retirement readiness remains a major challenge for many of today’s working-age households that may need to save more and/or work longer to improve their prospects for a secure retirement.
That’s according to the Center for Retirement Research’s newly released National Retirement Risk Index (NRRI...
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By Ted Godbout | 5/9/2023
According to Bank of America’s latest 401(k) Participant Pulse report, there was some good news to offset the less favorable news amid ongoing economic headwinds.
Notably, the firm’s first quarter, 2023 data shows that fewer participants took loans, but for higher amounts, while hardships...
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By Ted Godbout | 5/8/2023
Billed as an effort to work together to ensure all people feel prepared to retire, October Three Consulting and Retirement Learning Center (RLC) jointly announced October Three’s acquisition of RLC.
As astute readers of NAPA Net will know, the RLC has partnered with NAPA for more than 10 years by...
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By Ted Godbout | 5/5/2023
Despite 401(k) plan investors paying less to invest than they ever have, even compared to just a year ago, the basis points saved are not shared equally by all defined contribution (DC) plan participants.
And while this isn’t a new concept, the cost participants pay to invest in their DC plans...
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By Ted Godbout | 5/3/2023
While the SECURE Act and SECURE 2.0 seek to make it easier for small businesses to offer a retirement plan, many employers that do not offer coverage still appear to be clinging to the same reasons for not doing so.
According to a new survey report by the Transamerica Institute and its...
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By Ted Godbout | 5/2/2023
While it may come as no surprise given the current economic environment, two new studies find that small- and mid-size business owners have major concerns about inflation, higher taxes, as well as their own personal financial security.
Not all was bad, however. Despite recent bank failures and...
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By Ted Godbout | 4/21/2023
President Biden’s nominee to lead the Department of Labor expressed support for the SECURE 2.0 Act, but the bigger issue during her confirmation hearing was the sharp questioning from Republican lawmakers about her record and whether she would be an impartial arbiter between labor unions and...
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By Ted Godbout | 4/21/2023
The Securities and Exchange Commission on April 20 issued new guidance in the form of a staff bulletin to assist broker-dealers and investment advisers in addressing their care obligations when providing advice to retail investors.
The bulletin, which is the third in a series[1] and includes 20...
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By Ted Godbout | 4/21/2023
With inflation hitting a 40-year high in 2022, American workers of all ages cut their retirement savings, struggled with debt and found it difficult to make ends meet—but the findings were even more troubling for those with low levels of financial literacy.
This is according to the 7th annual...
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By Ted Godbout | 4/20/2023
The American Retirement Association applauds the Department of Labor’s proposed addition of a self-correction option for delinquent participant contributions and loan repayments under the Voluntary Fiduciary Correction Program (VFCP) but contends that important clarifications are needed for plan...
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By Ted Godbout | 4/19/2023
Various provisions under the SECURE 2.0 Act strongly resonate with employees amid considerable changes in retirement expectations, financial conditions and workforce demographics, but the findings of a new survey suggest that more can be done to promote retirement security.
And even though nearly...
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By Ted Godbout | 4/19/2023
While many younger investors are highly receptive to digital advice from their brokerage firms, a lack of understanding of how the technology manages their portfolio could be hindering wider adoption, a new study suggests.
According to J.D. Power’s 2023 U.S. Self-Directed Investor Satisfaction...
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By Ted Godbout | 4/14/2023
Despite an uncertain economic environment, wealth management M&A dealmaking activity appears to have bounced back in the first quarter of 2023 after four consecutive quarterly declines, with private equity helping to lead the way.
In the first quarter, acquirers announced 75 deals involving $1...
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By Ted Godbout | 4/13/2023
Plan sponsor interest in keeping retiree assets in their defined contribution plans is increasing, according to new research from Cerulli Associates based off surveys and conversations with plan sponsors, consultants and DCIO asset managers.
More than half (54%) of 401(k) plan sponsors prefer to...
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By Ted Godbout | 4/12/2023
A new study contends that there is a growing opportunity for wealth transfers, not only among the wealthy but also among lower-asset households affected by the transition from defined benefit to defined contribution plans.
In fact, Hearts & Wallets’ research finds that nearly two-thirds of U.S...
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By Ted Godbout | 4/7/2023
A perceived comfortable retirement may be hard to reach for many working Americans, as most say it will take at least $1 million to do so, although most don’t expect to reach that number.
According to findings from Schroders’ 2023 U.S. Retirement Survey of 2,000 U.S. investors nationwide,...
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By Ted Godbout | 4/6/2023
The path to Senate confirmation for President Biden’s current nominee to lead the Department of Labor appears to be getting narrower.
The latest salvo comes from House Ways and Means Committee Chair Jason Smith (R-MO), House Education and the Workforce Chair Virginia Foxx (R-NC), Speaker Kevin...
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By Ted Godbout | 4/5/2023
The idea of providing a predictable paycheck in retirement seems to have everything going for it—participants supposedly want it, providers are creating solutions and frameworks exist, but there’s yet to be widespread adoption of providing a solution to plan participants.
In fact, numerous studies...
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By Ted Godbout | 4/4/2023
While a flood of lawsuits from the plaintiff’s bar continues at an unprecedented rate, top ERISA attorneys at an April 3 workshop session at the NAPA 401(k) Summit debated whether recent successes from plan sponsors may help finally stem the tide.
Indeed, the Oshkosh case is repeatedly being cited...
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By Ted Godbout | 4/3/2023
Even though the ink is barely dry on the SECURE 2.0 Act, there’s no rest for the weary, as some in Washington are pushing a federal government-run retirement system that would unfairly compete with the private sector, warned Brian Graff at the April 2 opening session of the 2023 NAPA 401(k) Summit...
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