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Ted Godbout
By Ted Godbout | 4/5/2022
“Auto everything” has solved a lot of problems, but the personalization required for decumulation strategies requires a different approach, Prof. Schlomo Benartzi suggested at an April 3 general session at the 2022 NAPA 401(k) Summit.
Benartzi, Professor Emeritus of the UCLA Anderson School of...
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By Ted Godbout | 4/5/2022
Consolidating or remaining independent each have their pros and cons, but it is especially important to understand the challenges and opportunities before going down that path, speakers at an April 4 workshop session at the NAPA 401(k) Summit advised.
Moderator Melissa Cowan of Melissa Cowan...
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By Ted Godbout | 4/4/2022
The House of Representatives’ overwhelming passage last week of the Securing a Strong Retirement Act (H.R. 2954, a.k.a SECURE 2.0) helps set the stage for action by the U.S. Senate later this year, Brian Graff explained at the April 3 opening session of the 2022 NAPA 401(k) Summit in Tampa, FL.
“...
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By Ted Godbout | 3/31/2022
As small and mid-sized businesses continue to look for ways to attract and retain key employees, a new survey finds they’re putting employee benefits in place.
The Principal Financial Group conducted a “check-in” with more than 1,000 business owners at the beginning of 2022 and found that 84% of...
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By Ted Godbout | 3/31/2022
In addition to examining obligations under Regulation Best Interest, the SEC’s 2022 exam priorities will include several new emerging areas of focus, the Division of Examinations announced March 30.
Among the top areas include private funds, environmental, social and governance (ESG) investing,...
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By Ted Godbout | 3/31/2022
The Bay State’s fiduciary rule encountered a major setback when a Massachusetts judge on March 30 invalidated the March 2020 rule that imposed a heightened fiduciary conduct standard on broker dealers and agents.
The March 30 ruling by Suffolk County Superior Court Judge Michael Ricciuti held...
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By Ted Godbout | 3/30/2022
March 29 was a busy day on Capitol Hill—in addition to the House of Representatives approving SECURE Act 2.0, the Senate Health, Education, Labor and Pensions (HELP) Committee held a hearing on improving retirement security.
In the hearing, titled Rise and Shine: Improving Retirement and...
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By Ted Godbout | 3/30/2022
After waiting for nearly a year, legislation that builds off the original SECURE Act and is supported by the American Retirement Association was approved March 29 by the House of Representatives.
The Securing a Strong Retirement Act of 2022 (H.R. 2954)—a.k.a. SECURE Act 2.0—was approved by a 414-...
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By Ted Godbout | 3/30/2022
A bipartisan bill introduced in the U.S. Senate March 30 would make it easier for small businesses to offer retirement plans for their employees.
The Starter-K Act of 2022 (S. 3955)was introduced by Sens. John Barrasso (R-WY) and Tom Carper (D-DE), both of whom sit on the tax-writing Senate...
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By Ted Godbout | 3/29/2022
President Biden released a nearly $6 trillion fiscal year 2023 budget proposal on March 28, outlining his tax and spending priorities over the next decade, including a new minimum tax on wealthy Americans.
While the budget outlines broad-based themes, such as prioritizing education and college...
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By Ted Godbout | 3/29/2022
Amid rising inflation and interest rates, volatile markets and climate worries, institutional investors apparently are responding to the uncertain environment by pursuing a range of portfolio strategies.
According to findings from Nuveen’s annual EQuilibrium Global Institutional Investor Survey,...
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By Ted Godbout | 3/28/2022
Thanks in part to the growth of collective investment trusts (CITs) and a rebound in investor contributions, total assets in target date strategies grew to a record high in 2021.
CITs apparently are on pace to overtake mutual funds as the most popular target-date vehicle in the coming years,...
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By Ted Godbout | 3/25/2022
Proposed guidance addressing the so-called “one-bad-apple” rule under the SECURE’s Act multiple employer plan (MEP) provisions was released March 25.
The proposed regulations address changes under the Setting Every Community Up for Retirement Enhancement (SECURE) Act providing an exception to the...
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By Ted Godbout | 3/24/2022
Two key senators have asked the Government Accountability Office to investigate whether spouses should be given additional rights to safeguard and protect 401(k) assets.
The bipartisan request comes from Sen. Patty Murray (D-WA), chair of the Senate Health, Education, Labor and Pensions (HELP)...
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By Ted Godbout | 3/23/2022
Last year, more workers took advantage of the convenience of virtual and on-demand 401(k) educational sessions, and it appears this trend will continue even as workplaces move back to in-person work.
According to data from Schwab Retirement Plan Services, participant viewership for virtual live...
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By Ted Godbout | 3/23/2022
Americans generally believe that their retirement savings are doing better, but apparently there is a sizeable confidence gap in their ability to enjoy a comfortable retirement.
According to the Principal Financial Group’s latest Retirement Security Survey, American workers of all generations...
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By Ted Godbout | 3/23/2022
Legislation has been introduced in the House of Representatives to allow tax- and penalty-free withdrawals to pay for long-term care insurance.
Rep. Ann Wagner (R-MO), the Vice Ranking Republican on the House Financial Services Committee, introduced the Long-Term Care Affordability Act (H.R. 7107...
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By Ted Godbout | 3/22/2022
Social responsibility initiatives like DEI and ESG investing are a high priority for many executives—but does that extend to helping employees save for retirement?
A new survey by PNC Institutional Asset Management considers viewpoints on social responsibility and ESG investing among 240 C-suite...
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By Ted Godbout | 3/21/2022
A new analysis by PGIM looks at how participants responded, particularly considering the significant structural changes in the DC space since the last major market shock in 2008.
More specifically, the firm set out to understand both the impact of professionally managed portfolios and in-plan...
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By Ted Godbout | 3/21/2022
Employers are eyeing changes to their DC plans in an effort to improve their employees’ retirement security and financial wellbeing and to help with recruitment and retention.
In a survey of 363 DC plan sponsors representing a broad range of industries, Willis Towers Watson found that 75% of...
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