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Ted Godbout

By Ted Godbout | 2/13/2019
A recent study analyzing common language used to describe features of defined contribution plans reveals an apparent disconnect between what plan sponsors are saying and what participants are hearing. As part of the study, Invesco, along with Maslansky + Partners, conducted participant focus groups... READ MORE
By Ted Godbout | 2/12/2019
Plan participants like the flexibility and control of 401(k)s and are overwhelmingly confident they will help them meet their retirement goals, according to a new study by the Investment Company Institute. As its 11th annual update, ICI’s “American Views on Defined Contribution Plan Saving, 2018”... READ MORE
By Ted Godbout | 2/12/2019
Retirement readiness remains a significant issue, but making a few small, smart investments like taking advantage of an employer 401(k) match can have a major impact over time, according to BlackRock’s 6th Annual Global Investor Pulse Survey. In this year’s study, which spanned 27,000 people in 13... READ MORE
By Ted Godbout | 2/11/2019
Retirees’ concerns about not having enough money to last through retirement may not be as grim as they had feared before retiring, according to a new study. In fact, more than two-thirds of retirees say they live as well or better in retirement as they did when they were working, according to the... READ MORE
By Ted Godbout | 2/7/2019
At the first hearing on retirement security issues in the 116th Congress on Feb. 6, enactment of the Retirement Enhancement and Savings Act (RESA) again took center stage as a vital step in expanding access and addressing the coverage gap. Featuring a single panel of witnesses, the four-hour... READ MORE
By Ted Godbout | 2/6/2019
Two key senators reintroduced legislation to provide greater flexibility for small businesses interested in offering SIMPLE plans as an option for saving for retirement. Introduced Feb. 4 by Sens. Susan Collins (R-ME) and Mark Warner (D-VA), the SIMPLE Plan Modernization Act (S. 322) would, among... READ MORE
By Ted Godbout | 2/5/2019
Data unearthed from tracking the most common questions employees have about 401(k) plans suggests that the complex nature of such accounts are a bigger barrier to saving than experts realize, according to a new white paper. Vesting schedules, in-service withdrawals, emerging markets and lifecycle... READ MORE
By Ted Godbout | 2/4/2019
Five years ago, employers were just starting to provide workers with financial benefits beyond their retirement plan, but now financial wellness appears to be firmly entrenched in the benefits space, according to a recent report. Nearly two-thirds of employers say they are very likely to take... READ MORE
By Ted Godbout | 2/4/2019
Fourth quarter volatility pushed average 401(k) account balances down from earlier record highs, but investors apparently didn’t panic, data from Fidelity Investment indicates. The firm notes in its quarterly analysis of retirement savings trends that the average 401(k) balance experienced a 10%... READ MORE
By Ted Godbout | 1/31/2019
Given the increasing influence that digital design can have on retirement savings decisions, plan sponsors and advisors may want to assess their “digital fiduciary” role, writes behavioral scientist Shlomo Benartzi in a new white paper. Overseeing an employee benefit plan in the 20th Century meant... READ MORE
By Ted Godbout | 1/31/2019
House Ways & Means Committee Chairman Richie Neal (D-MA) announced Jan. 30 that the committee will hold a hearing on Feb. 6 on improving retirement security for America’s workers. It is anticipated that the hearing will be the first of many focusing on retirement security issues, eventually... READ MORE
By Ted Godbout | 1/30/2019
Fee litigation trends and disclosure requirements have compelled plan sponsors to focus on how recordkeeping fees are allocated to participants, but beyond ERISA’s general fiduciary requirements, there is limited legal guidance, explains a new white paper. Under the Department of Labor’s fee... READ MORE
By Ted Godbout | 1/29/2019
After having limited staff due to the government shutdown, the Securities & Exchange Commission is attempting to resume normal operations, but that may take some time.“Over the past 30 days, with a limited staff, we followed our Operations Plan Under a Lapse in Appropriations and Government... READ MORE
By Ted Godbout | 1/28/2019
As a firm’s most important asset, a key objective of workplace benefit plans generally and retirement plans specifically is attracting and retaining quality talent and creating a cycle of opportunity. A new study offers a comprehensive look at compensation practices in the independent financial... READ MORE
By Ted Godbout | 1/28/2019
Of course the realized benefits will vary by participants and fees charged for the service, but a new white paper suggests that there is strong evidence for using managed accounts.In fact, two potential outcomes for defined contribution plan participants who use managed accounts are higher savings... READ MORE
By Ted Godbout | 1/28/2019
The threat of being sued continues to dominate plan sponsor reluctance about being too innovative with their defined contribution plans, a recent study finds.According to Alight Solution’s 2019 Hot Topics in Retirement and Financial Wellbeing report, “Building on the past, working toward the future... READ MORE
By Ted Godbout | 1/25/2019
With the stock market’s recent volatility casting a cloud over Americans’ personal financial satisfaction, the AICPA’s “Personal Financial Satisfaction Index” (PFSi) declined for the first time in two years.According to the report, the unfavorable fourth quarter results erased 24% of the index’s... READ MORE
By Ted Godbout | 1/24/2019
Investment suitability will remain one of FINRA’s top examination priorities, but the organization will also target broker-dealers’ use of online distribution platforms, due diligence compliance and risk disclosure obligations as part of its expanded areas of focus.In the organization’s 2019 Risk... READ MORE
By Ted Godbout | 1/24/2019
New research reveals dramatic retirement savings shortfalls among women of all cohorts, but particularly for single women, which could lead to serious financial complications in retirement.In “How Retirement Readiness Varies by Gender and Family Status: A Retirement Savings Shortfall Assessment of... READ MORE
By Ted Godbout | 1/23/2019
Continued scrutiny of fees ranked as the most likely primary area of focus over the next year for DC plan sponsors, while participant communication and financial wellness were not far behind.Retirement readiness was last year’s highest rated area, but that topic fell to the middle of the pack,... READ MORE