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Ted Godbout
By Ted Godbout | 11/10/2023
The Plan Sponsor Council of America’s (PSCA) 5th annual Health Savings Account (HSA) Survey of more than 500 employers indicates that more employers are framing HSAs as part of a holistic retirement savings approach and not just a spending account for current health care expenses.
In fact, the...
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By Ted Godbout | 11/9/2023
With many workers electing workplace benefits during open enrollment this month, a new survey finds that less than half will review or increase their retirement plan contributions, suggesting a missed opportunity to improve their retirement readiness.
In fact, findings from the Corebridge...
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By Ted Godbout | 11/8/2023
Despite being better educated and enjoying improved career opportunities, women still lag behind men when it comes to saving and planning for retirement, according to a new study that examines the retirement preparedness of women workers.
In 23 Facts About Women's Retirement Outlook, the study by...
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By Ted Godbout | 11/7/2023
The consortium of retirement plan service providers focused on making it easier for Americans to transfer their workplace retirement accounts when changing employers has officially launched.
Becoming operational 12 months after being announced in 2022, the Portability Services Network (PSN) on...
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By Ted Godbout | 11/7/2023
The ongoing battle over the use of environmental, social and governance (ESG) factors in determining retirement investments continues unabated, as members of the House Ways and Means Committee dug into their respective positions during a hearing titled “Protecting Seniors and Savers from ESG...
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By Ted Godbout | 11/6/2023
While employees expect their defined contribution (DC) plan to be a key vehicle for funding their retirement, most are worried their retirement savings will not be enough to cover their expenses, according to new research from Buck.
To gain insight into employees’ satisfaction with their...
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By Ted Godbout | 11/3/2023
The Department of Labor’s (DOL) proposed rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA) has now been officially published in the Federal Register.
The DOL also published Nov. 3 the proposed amendments to Prohibited...
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By Ted Godbout | 11/2/2023
Asset growth of collective investment trusts (CIT) continues to chip away at mutual funds’ dominance, as defined contribution (DC) plan sponsors and intermediaries value the cost advantages of the vehicle, according to a new report from Cerulli Associates.
In the latest issue of The Cerulli Edge—U...
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By Ted Godbout | 11/1/2023
The SECURE 2.0 Act marked a significant step towards enabling more small business owners to offer retirement savings plans, yet 65% still don’t offer one to their employees.
How can retirement plan advisors and recordkeepers help them take the next step? To better understand their motivations...
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By Ted Godbout | 11/1/2023
The Internal Revenue Service has just announced the new contribution and benefit limits for 2024 and—reflecting the moderating inflation readings, the increases are modest.
The headline is that next year the amount individuals can contribute to their 401(k) plans (not to mention 403(b) and most...
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By Ted Godbout | 10/31/2023
While it may come as no surprise, the sooner Congress implements reforms to the Social Security system, the lesser the impact might be on beneficiaries; but the closer it gets to 2034, when the trust fund reserves are estimated to be depleted, the more the options become limited—and potentially...
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By Ted Godbout | 10/30/2023
That apparently is the sentiment for nearly half of investors who participated in the Nationwide Retirement Institute’s 9th annual Advisor Authority survey.
In fact, regardless of political affiliation, 45% of investors believe the results of the 2024 U.S. federal (presidential and congressional)...
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By Ted Godbout | 10/27/2023
Not long after the wildfires in Lahaina, Maui destroyed more than 2,000 buildings and caused billions of dollars in damages, a delegation of Hawaii lawmakers introduced legislation to significantly expand the disaster relief provisions contained in the SECURE 2.0 Act.
Rep. Jill Tokuda (D-HI) and...
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By Ted Godbout | 10/26/2023
Morningstar’s 7th annual landscape study on health savings accounts (HSAs) available to individuals shows continued industry improvement, even though persistent issues with transparency and fees remain.
The study evaluated 10 of the top HSA providers on two different uses: (1) as investment...
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By Ted Godbout | 10/25/2023
As plan sponsors eye solutions for retirement readiness, personalization through the potential use of managed accounts and other personalized financial wellness offerings has become a major area of focus, according to a new white paper by Cerulli Associates.
In The Benefits of Personalization in...
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By Ted Godbout | 10/25/2023
Final regulations updating the existing procedures governing the filing and processing of applications for administrative exemptions from the prohibited transaction provisions of ERISA, the Internal Revenue Code and the Federal Employees’ Retirement System could be released soon.
The White House...
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By Ted Godbout | 10/24/2023
To incentivize so-called micro-businesses with less than 10 employees to adopt retirement plans, a bipartisan pair of House lawmakers introduced legislation that would increase and alter the way the start-up credit is calculated.
Reps. Claudia Tenney (R-NY) and Dan Kildee (D-MI)—who are both...
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By Ted Godbout | 10/23/2023
As health care costs in the United States continue to rise and inflation remains stubborn, many Americans apparently are losing confidence in their ability to afford their health expenses and maintain their physical and financial wellbeing in retirement.
According to the annual Nationwide...
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By Ted Godbout | 10/22/2023
Benefits decision makers have cited high costs of living as the top issue to address through financial wellness initiatives, superseding retirement preparedness for the first time ever, according to Employee Benefit Research Institute’s (EBRI) sixth annual Financial Wellbeing Employer Survey....
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By Ted Godbout | 10/19/2023
The Department of Labor (DOL) has taken the first step in exploring ways to improve the effectiveness of retirement plan disclosures under ERISA, consistent with Section 319 of the SECURE 2.0 Act of 2022.
More specifically, the DOL’s Employee Benefits Security Administration (EBSA) on Oct. 18...
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