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Ted Godbout

By Ted Godbout | 4/10/2019
So you think your data is safe? It probably isn't, as keynote speaker Kevin Mitnick, “the world’s most famous hacker” and bestselling author, demonstrated at the 2019 NAPA 401(k) Summit.   Mitnick, once on the FBI’s Most Wanted list, is now a trusted security consultant to Fortune 500 companies... READ MORE
By Ted Godbout | 4/9/2019
In today's increasingly diverse world, it's increasingly important for plan advisors to address ways to open the industry up to a more diverse workforce, advised panelists at an April 8 workshop session at the 2019 NAPA 401(k) Summit in Las Vegas. While there is still much work to be done overall... READ MORE
By Ted Godbout | 4/9/2019
While investors have been confronted with a range of contradictions, Bob Doll, Senior Portfolio Manager & Chief Equity Strategist with Nuveen Asset Management, told attendees at an April 8 workshop session at the 2019 NAPA 401(k) Summit to expect a “choppy and frustrating” 2019, but he does not... READ MORE
By Ted Godbout | 4/8/2019
For plan advisors looking to take their business to the next level, the power of technology aggregation can have tremendous benefits, advised panelists featured in an April 7 workshop session at the 2019 NAPA 401(k) Summit in Las Vegas.  Lisa Buffington of Marsh & McLennan moderated a... READ MORE
By Ted Godbout | 4/5/2019
The American Retirement Association is asking the ERISA Advisory Council to examine issues concerning the extent to which an ERISA-covered retirement plan may use plan assets to pay the costs associated with plan design changes and other features that encourage retirement savings. In an April 3... READ MORE
By Ted Godbout | 4/5/2019
The Massachusetts Securities Division is requesting comments on its proposed, new fee disclosure table that would be added to existing disclosure obligations of investment advisers registered in the state.  The division is seeking input on amendments that would require each investment adviser... READ MORE
By Ted Godbout | 4/4/2019
A bipartisan task force in Pennsylvania is recommending the establishment of a state-run auto-IRA program to help workers who don’t have access to a private-sector retirement plan.  The task force, which was established in September 2017 by State Treasurer Joe Torsella, released a report March 27 ... READ MORE
By Ted Godbout | 4/4/2019
A pair of Senate Democrats, one of whom is a 2020 presidential candidate, introduced legislation on April 4 that would require businesses to pay at least 50 cents into an employee’s retirement savings plan for every hour worked.  Noting that 3 in 10 workers lack access to a workplace retirement... READ MORE
By Ted Godbout | 4/3/2019
President Trump has announced that he intends to nominate Allison H. Lee to serve on the Securities and Exchange Commission.  If she is confirmed by the Senate, Lee would serve for a five-year term expiring June 5, 2022, filling the seat vacated by former Commissioner Kara Stein, who left the... READ MORE
By Ted Godbout | 4/2/2019
The most powerful committee in the U.S. House of Representatives has advanced a powerful piece of retirement reform legislation – unanimously. Signifying the importance of the issue, the first markup meeting of the House Ways & Means Committee for the 116th Congress on April 2 featured the... READ MORE
By Ted Godbout | 4/1/2019
Update as of April 1, 2019 at 1:20 pm: We understand from inside sources that a provision to provide for so-called “open MEPs” will be added to the Ways and Means Committee’s SECURE Act set to be marked up in committee on Tuesday, April 2. The provision, as we understand it, will be based on... READ MORE
By Ted Godbout | 4/1/2019
Increasing concern about transforming accumulated savings into a secure retirement is driving interest in income-generating vehicles via workplace retirement plans, according to new survey results.  BlackRock’s newly released DC Pulse Survey of more than 1,000 DC plan participants and more than... READ MORE
By Ted Godbout | 3/29/2019
UPDATED April 9: The Taxpayer First Act was approved by the House Ways & Means Comnmittee on April 2 and by the full House of Representatives on April 9. Key members of Congress have introduced separate legislation to revamp the Internal Revenue Service as well and to make it easier for small... READ MORE
By Ted Godbout | 3/29/2019
Recent research finds that growth in both the number of health savings accounts (HSAs) and those enrolled in HSA-eligible health plans has slowed.  Of course, the number of HSAs and enrollment in HSA-eligible health plans have both grown significantly since HSAs first became available in 2004. But... READ MORE
By Ted Godbout | 3/28/2019
A key House committee moved forward on legislation to require the Securities and Exchange Commission to conduct “usability testing” prior to finalizing any new proposed disclosures for retail investors.   Originally introduced by Rep. Sean Casten (D-IL), the “SEC Disclosure Effectiveness Testing... READ MORE
By Ted Godbout | 3/28/2019
The House Ways & Means Committee will consider legislation on April 2 to expand retirement savings opportunities and reform the IRS’s administration and operating procedures, according to multiple press reports.   The outline for the legislation – the “Chairman’s mark” – could be released as... READ MORE
By Ted Godbout | 3/27/2019
New survey results examining the retirement savings habits of independent gig economy workers compared to traditional workers reveal some surprising results. While traditional workers are more likely to be actively saving for retirement, independent workers are just as likely as traditional... READ MORE
By Ted Godbout | 3/26/2019
New survey results show that workers are highly concerned about their financial security, particularly in retirement, and they are counting on both Congress and their employers to provide solutions. Conducted on behalf of Prudential by Morning Consult, the sixth “American Workers Survey” finds... READ MORE
By Ted Godbout | 3/25/2019
Fueled by industry competition, average expense ratios of equity, hybrid and bond mutual funds continued a two-decade slide, according to new research from the Investment Company Institute. Among the three key factors contributing to the long-term decline are investors shifting toward lower-cost... READ MORE
By Ted Godbout | 3/25/2019
While today’s employees feel confident in their finances, the reality of their situations is not aligned with this confidence, a new report shows.  According to MetLife’s 17th annual U.S. Employee Benefit Trends Study, nearly two out of three people say they are confident in their finances, but... READ MORE

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