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Ted Godbout

By Ted Godbout | 5/31/2023
Another blockbuster deal was announced Wednesday. Franklin Resources, the  parent company of Franklin Templeton, entered into a definitive agreement to buy Putnam Investments.  According to the companies, Franklin Templeton will acquire Putnam for approximately $925 million of primarily equity... READ MORE
By Ted Godbout | 5/31/2023
Amid threats of the economy crashing and 401(k)s plummeting, the House of Representatives late May 31 approved legislation to suspend the federal debt limit until 2025. Facing a June 5 deadline to avoid a first-ever federal default if Congress does not act, the House approved the Fiscal... READ MORE
By Ted Godbout | 5/30/2023
Today’s investors are exposed to more information than any previous generation, with access to data and research that would have been available only to financial professionals in the past, but that does not necessarily lead to improved knowledge or understanding, a new study finds.  To get a... READ MORE
By Ted Godbout | 5/25/2023
With U.S. employers adding one million jobs to the economy in the first quarter of 2023, Americans appear to be refocusing on investing in their future, according to Fidelity’s latest retirement trends analysis. Among other things, the firm reports in its Q1 2023 Retirement Analysis that 401(k)... READ MORE
By Ted Godbout | 5/24/2023
Legislation supported by the American Retirement Association (ARA) that would allow 403(b) plans to invest in collective investment trusts (CIT) took a significant step forward in the House of Representatives.  In a markup vote late Wednesday, the House Financial Services Committee approved an ... READ MORE
By Ted Godbout | 5/23/2023
Two new surveys of adult American women suggest that many are struggling financially, making it exceedingly difficult to plan for a secure retirement. Commissioned by the National Council on Aging (NCOA) and Women's Institute for a Secure Retirement (WISER), the surveys reveal that just over half... READ MORE
By Ted Godbout | 5/22/2023
More consumers are multi-sourcing their investment decisions, with financial professionals being most influential, but reliance on online and employer resources is also increasing, according to a new research report. Saving and investing consumers today consult an average of 6.4 different sources... READ MORE
By Ted Godbout | 5/19/2023
Despite political unrest at the federal and state levels, the asset management industry appears to be largely unswayed by the negative rhetoric surrounding the use of environmental, social and governance (ESG) factors for investing in retirement plans. This was found to be largely the case in new... READ MORE
By Ted Godbout | 5/19/2023
With more than a third of the U.S. workforce said to be currently engaged in temporary, contract or on-demand work, a bipartisan group of senators has reintroduced legislation to test “innovative portable benefit designs” to help level the playing field for these workers who lack access to benefits... READ MORE
By Ted Godbout | 5/19/2023
James Gorman, who has served as CEO of Morgan Stanley since 2010 and Chairman since 2012, told shareholders at the firm’s annual shareholder meeting on Friday that he intends to step down from firm within the next year.  “The specific timing of the CEO transition has not been determined, but it is... READ MORE
By Ted Godbout | 5/18/2023
While there’s much debate over the pros and cons of auto-features and whether participants need a nudge, the results of a new study suggest that plan sponsors can boost “default escalators” in 401(k) plans without decreasing participation. The results are based on a new field study conducted... READ MORE
By Ted Godbout | 5/17/2023
With inflation running at record levels last year, the Internal Revenue Service provided a sizeable boost to the inflation-adjusted health savings account (HSA) limits for 2024, as determined under Section 223 of the Internal Revenue Code. The IRS also announced the maximum amount that may be made... READ MORE
By Ted Godbout | 5/16/2023
While traditional benefits, such as retirement savings plans, health coverage and paid time off remain very important, new research shows that most younger workers are also prioritizing non-traditional benefits. Now in its second year, LIMRA’s 2023 BEAT Study: Benefits and Employee Attitude... READ MORE
By Ted Godbout | 5/16/2023
A new study that quantifies the potential magnitude of retirement savings shortfalls finds that, if current trends continue, federal and state governments could be hit with a combined $1.3 trillion burden over the next 20 years; efforts at the state level, however, could help reduce that burden.... READ MORE
By Ted Godbout | 5/12/2023
While they may not realize it, there is an opportunity for small employers to offer competitive retirement benefits, as only a third (34%) currently offer retirement savings to employees today, according to Fidelity Investment’s 2023 Small Business Retirement Index. Of those that do not offer a... READ MORE
By Ted Godbout | 5/11/2023
Fintech 401(k) platform provider Vestwell announced its further expansion to serve the financial advisor industry through new key industry partnerships and integrations. According to the firm’s announcement, Vestwell was selected to support J.P. Morgan expand their recordkeeping options and help... READ MORE
By Ted Godbout | 5/11/2023
Appearing at the Employee Benefit Research Institute’s 2023 Spring Policy Forum on May 11, Lisa Gomez, Assistant Secretary for the Employee Benefits Security Administration (EBSA), told attendees that the department is busy working on getting guidance out the door.   On the retirement side, Gomez... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE