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John Sullivan
By John Sullivan | 11/16/2023
The ability to benchmark against industry standards and similar retirement plans has been significantly expanded with the advent of artificial intelligence (AI).
San Francisco-based Newfront Retirement Services recently released its “benchmarking on steroids” tool and now BenchMine, a “...
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By John Sullivan | 11/15/2023
Legislation that would help more Americans ages 18 to 20 access employer-sponsored retirement plans was introduced by Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) on Wednesday.
The Helping Young Americans Save for Retirement Act would remove barriers that discourage companies from offering...
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By John Sullivan | 11/14/2023
Quiet quitting and the Great Resignation are still a thing, catapulting the failure to attract or retain top talent to the No. 4 position in a new Aon survey of the most pressing business challenges, it’s highest showing ever. It reinforces the need for an attractive benefits package—including a...
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By John Sullivan | 11/7/2023
A relatively overlooked aspect of a recent Mercer/CFA Institute report found that artificial intelligence could present a significant problem for plan sponsors and participants (and advisors).
While coverage primarily centered on the Global Pension Index section of the report, which ranked...
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By John Sullivan | 11/5/2023
Top Republicans are upset with Acting Labor Secretary Julie Su for failing to provide the information they requested regarding the Employee Benefits Security Administration’s (EBSA) enforcement practices.
In a letter to Su sent Thursday, Education and the Workforce Committee Chairwoman Virginia...
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By John Sullivan | 11/2/2023
In a recent session titled “Charting a New Course: Navigating Roth Changes in the Post-SECURE 2.0 World,” Shannon Edwards with TriStar Pension Consulting and Michelle Ueding, an employee benefits and executive compensation attorney with Kutak Rock, focused on all one needs to know about after-tax...
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By John Sullivan | 10/31/2023
As anticipated, the Department of Labor (DOL) has released a proposed rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA).
The proposed rule, announced during a White House ceremony attended by President Biden on Tuesday afternoon...
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By John Sullivan | 10/29/2023
After months of anticipation, the Department of Labor will release a new version of its proposed fiduciary rule for public comment on Tuesday.
The announcement will be made during a ceremony at the White House scheduled for 3:30 that afternoon. President Biden will attend, an indication of the...
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By John Sullivan | 10/26/2023
Laurel Taylor was frustrated with her student loan experience, so much so that she founded a company to make it better for borrowers.
She routinely tells her story about how she went to Texas State, accumulated $150,000 in student debt, and how her mother was a social worker earning $24,000 a...
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By John Sullivan | 10/25/2023
Automatic enrollment provisions contained in SECURE 2.0 were the focus of an Oct. 23 presentation at the ASPPA Annual conference in National Harbor, MD.
Craig Hoffman, an Attorney/Senior Consultant with Nova 401(k) Associates in Houston, TX, said that in SECURE 2.0, Congress went much further than...
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By John Sullivan | 10/24/2023
The challenges, opportunities, and complexities surrounding high-profile SECURE 2.0 provisions were tackled in an Oct. 23 morning session at the 2023 ASPPA Annual conference in National Harbor, Maryland.
Bob Kaplan, the American Retirement Association's Director of Technical Education, and Robert...
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By John Sullivan | 10/20/2023
[This article has been updated to reflect that Dan Gilbert is not one of EIG's co-founders, he is a member of the Founders Circle, an advisory board with no governance responsibilities. Additionally, Steve Glickman is not a tech entrepreneur, but rather former Senior Economic Advisor at the...
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By John Sullivan | 10/19/2023
In a possible tweak to Republican lawmakers, President Biden elevated Acting Labor Secretary Julie Su into the presidential line of succession, causing an angry reaction from the GOP.
Senators Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP)...
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By John Sullivan | 10/19/2023
An increasingly tight labor market means more employers are offering more benefits to recruit and retain workers. Unfortunately, it also means more confusion about the overall benefits package itself.
In fact, 45% of U.S. employees said they do not fully understand their benefits package. It’...
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By John Sullivan | 10/18/2023
COLAs aren’t cutting it.
The 3.2% Social Security cost of living adjustment (COLA) is well above the 2.6% average over the past two decades, according to The Senior Citizens League (TSCL).
Still, “80% of retirees think Congress should beef up inflation protection by providing a COLA that more...
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By John Sullivan | 10/17/2023
Inflation fears are (understandably) leading to behavioral change, especially with retirement saving and investing.
Following a second straight year of above-average inflation, and after last year’s volatile markets, workers’ perceptions of what retirement will look like has begun to shift,...
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By John Sullivan | 10/17/2023
While tough to evaluate with apples-to-apples comparisons, Mercer and CFA Institute again released their annual Global Pension Index, which compares 47 retirement income systems, covering 64% of the world’s population.
It found that the Netherlands’ regained the top spot, with Iceland and Denmark...
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By John Sullivan | 10/16/2023
Global adoption of artificial intelligence in all industries is happening at a breakneck pace—the retirement plan space included. It’s not a question of if, but how, it will affect plan advisors, sponsors, and participants. We spoke with top advisors and experts about what to expect.
We asked...
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By John Sullivan | 10/16/2023
Americans' dismal savings rate is a perennially talked about topic, yet COVID pushed emergency savings to the fore, illustrating just how unprepared most workers are for a major (or even modest) expense or income interruption.
Fidelity Investments reported last week that a lack of emergency...
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By John Sullivan | 10/13/2023
It’s that time of year! We proudly announce the nominees for our annual NAPA Top Young Retirement Plan Advisors award, a.k.a. “Aces.”
Established in 2014, the list of “Aces” is drawn from nominations provided by NAPA Broker-Dealer/RIA Firm Partners and vetted by a blue-ribbon panel of senior...
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