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Ted Godbout

By Ted Godbout | 3/28/2023
Apart from the recent market volatility, a new study shows significant growth in account balances for 401(k) plan participants who consistently participate—especially for younger workers.   According to the study from the Employee Benefit Research Institute (EBRI) and the Investment Company... READ MORE
By Ted Godbout | 3/28/2023
President Biden’s nominee to lead the Department of Labor (DOL) will get a shot to convince skeptical lawmakers that she is the best candidate to succeed Marty Walsh, who stepped down earlier this month to take a position with the NHL Players Association. Julie Su, who was nominated to serve as U.... READ MORE
By Ted Godbout | 3/27/2023
While Millennials remain the largest cohort in the workforce and bring their own unique perspectives and expectations, the so-called Zoomer Generation born between 1997 to 2012 is beginning to enter the workforce and is already starting to have an impact on the retirement industry.   This is... READ MORE
By Ted Godbout | 3/24/2023
Not ready to give up the fight, the Republican-led House of Representatives attempted to override President’s Biden veto of a resolution that sought to block the so-called “ESG rule” from taking effect but fell well short of the votes needed. To override a presidential veto, it requires a two-... READ MORE
By Ted Godbout | 3/22/2023
To modernize its information collection and analysis methods, the Securities and Exchange Commission is proposing to expand the types of filings that broker-dealers and other regulated entities must submit electronically on EDGAR using structured data where appropriate. The Commission on March 22... READ MORE
By Ted Godbout | 3/21/2023
Feeling cared for at work is a key driver of employee holistic health and happiness, and not prioritizing it can cause major issues in the workplace, according to a new study. MetLife’s 21st annual U.S. Employee Benefit Trends Study found that nearly half of employees (42%) don’t feel cared for by... READ MORE
By Ted Godbout | 3/21/2023
Fidelity Investments is out with its latest Retirement Savings Assessment showing a decline in retirement readiness, as Americans continue to navigate ongoing market volatility and disruption. The firm projects that the median “Retirement Score” has moved back into the yellow zone at 78—a five-... READ MORE
By Ted Godbout | 3/18/2023
A group of Senate Democrats has asked Congress’ watchdog agency to examine the impact of the pay gap between men and women on the ability of women to save for retirement. Released in conjunction with Equal Pay Day, the March 14 letter from Senate Special Committee on Aging Chairman Robert Casey,... READ MORE
By Ted Godbout | 3/15/2023
To address cybersecurity risks to U.S. securities markets and protect customer information, the Securities and Exchange Commission on March 15 advanced a package of new requirements for broker-dealers, registered investment advisers and other industry stakeholders. Under the cybersecurity proposal... READ MORE
By Ted Godbout | 3/14/2023
In the post-SECURE Act 1.0 era, plan consultants are becoming more comfortable recommending retirement income options, but a new study suggests there are potential obstacles with newer solutions.  Following passage of the SECURE Act in December 2019, more than 8 in 10 (82%) defined contribution (... READ MORE
By Ted Godbout | 3/13/2023
Advisors are generally satisfied with their compensation plans, but there is room for improvement among wirehouses and large broker/dealers (B/Ds), a new report suggests.   According to The Cerulli Report—U.S. Advisor Metrics 2022: Trends in Advisor Compensation, 7 in 10 B/D advisors are happy... READ MORE
By Ted Godbout | 3/9/2023
President Biden’s fiscal year 2024 budget proposes massive tax increases on corporations and upper-income taxpayers, including a proposal from the Build Back Better Act[1] to limit how much taxpayers are allowed to accumulate in their retirement plans. According to the Treasury Department’s... READ MORE
By Ted Godbout | 3/8/2023
While the dedicated retirement income solution market has proliferated over the past several years, many plan sponsors have struggled to evaluate their options strategically, according to NEPC’s 17th annual Defined Contribution (DC) Plan Trends and Fee Survey. This year’s data reveals that... READ MORE
By Ted Godbout | 3/7/2023
Although stress continues to dominate women’s feelings toward money and saving, new research finds that, through the help of peer-supported groups, they’re tackling stress head on by taking control of their finances. According to the study by Fidelity Investments, which was conducted in... READ MORE
By Ted Godbout | 3/6/2023
A bipartisan group of Senators is spearheading an effort to draw attention to Social Security’s shortfalls and to help retirees better determine when to claim benefits. Comprised of Sens. Bill Cassidy (R-LA), Chris Coons (D-DE), Susan Collins (R-ME) and Tim Kaine (D-VA), the lawmakers on March 6... READ MORE
By Ted Godbout | 3/3/2023
After many years of saving in a defined contribution (DC) plan, what does a retirement-age participant typically do with the money they’ve accumulated? New research by Vanguard breaks it down. As an issue that has increasingly piqued the interest of policymakers, plan sponsors and recordkeepers,... READ MORE
By Ted Godbout | 3/1/2023
One day after the Republican-led House of Representatives approved a resolution to block the Labor Department’s so-called environmental, social and governance (ESG) rule, the Senate followed suit. Joining all Republican senators in supporting the resolution (H.J. Res. 30) were Democrats Joe... READ MORE
By Ted Godbout | 2/28/2023
The White House has announced that President Biden intends to nominate Julie Su to serve as Secretary of Labor, replacing Marty Walsh who recently announced his intention to step down to take a position with the NHL Players Association. Su has been serving as Deputy Labor Secretary—the No. 2 post... READ MORE
By Ted Godbout | 2/28/2023
As promised, the Republican-led House of Representatives moved forward with a congressional disapproval resolution against the Department of Labor’s recently finalized environmental, social and governance (ESG) rule. On a near party-line vote of 216-204, the House approved H.J. Res. 30 introduced... READ MORE
By Ted Godbout | 2/27/2023
Newly released proposed regulations by the Internal Revenue Service would update rules relating to the use of forfeitures in qualified retirement plans, including a new deadline for the use of forfeitures in defined contribution (DC) plans. The proposed regulations would clarify that forfeitures... READ MORE