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Ted Godbout

Bipartisan legislation to create a new federal commission that would study and recommend ways to improve Americans’ retirement security has been reintroduced in the Senate. The Federal Retirement Commission Act, reintroduced May 14 by Sens. Todd Young (R-IN) and Cory Booker (D-NJ), would charge... READ MORE
Changes that don’t have anything to do with retirement might undermine bipartisan support for retirement security legislation. House Majority Leader Steny Hoyer (D-MD) late last month had announced that the House planned to take up the Setting Every Community Up for Retirement Enhancement (SECURE... READ MORE
Despite a rocky end to 2018 and predictions of an impending recession, those who stayed the course with their 401(k) were rewarded with a generous first quarter rebound on the 10-year anniversary of the stock market low. Buoyed by positive stock market performance as well as record contribution... READ MORE
Members of the Senate Finance Committee expressed hope May 14 that Congress would move quickly to approve the long-pending Retirement Enhancement and Savings Act (RESA) before moving to the next round of broader retirement savings reforms.  “I’m hoping that the House will send its version of RESA... READ MORE
Picking up where they left off in the last Congress, the bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin (D-MD) reintroduced their comprehensive “Retirement Security and Savings Act” on May 13.  The 132-page bill includes more than 50 provisions designed to strengthen Americans’... READ MORE
A key member of Congress has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Sen. Ron Wyden (D-OR), Ranking Member of the... READ MORE
With billions of dollars continuing to leave the retirement system early every year, a new report looks at factors that lead individuals to take early withdrawals, as well as policies that may help reduce the incidence.  In “Additional Data and Analysis Could Provide Insight into Early Withdrawals... READ MORE
The key Senate committee with jurisdiction over retirement tax policy issues is turning its attention to reviewing proposals that encourage and facilitate retirement savings.  Sen. Charles Grassley (R-IA), Chairman of the Senate Finance Committee, has announced that the Committee will hold a... READ MORE
Congress returned  from its two-week spring break with plans to consider bipartisan retirement security legislation to make it easier for businesses to offer retirement plans and for individuals to save for retirement.   House Majority Leader Steny Hoyer (D-MD) reportedly announced in a “Dear... READ MORE
Employers are seeking to assist workers with student loan debt for purposes ranging from altruistic to improving their bottom line, according to a new EBRI Issue Brief. In “How Employers are Tackling Student Loan Debt: Evidence from the EBRI Employer Financial Wellbeing Survey,” better employee... READ MORE
After several years of record-breaking plan and participant outcomes, 2018’s market turbulence appears to have contributed to an increase in troubling participant behavior.  T. Rowe Price’s “Reference Point” reveals that 401(k) pretax deferral rates continued to rise in 2018, increasing to 8.6% on... READ MORE
Under questioning at a May 1 hearing on Capitol Hill, Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule.  Acosta appeared before the House Education and Labor Committee for a hearing to examine the policies and priorities of the... READ MORE
While there’s some good news in the Trustees report for the nation’s retirement security system, there’s also some not-so-good news. First, the good news. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become... READ MORE
It’s easy to assume that if everyone did their part individually, a team would function smoothly and efficiently, but group dynamics, synergy and demographics all can either contribute or detract from an investment committee’s effectiveness. A new white paper the firm Arnerich Massena, “Investment... READ MORE
Creating a plan for retirement can lead to a greater sense of confidence and control, but a new study suggests that a surprising percentage of the general population hasn’t even considered doing so. In fact, while many say they’ve “thought about it,” only 18% of respondents have created a... READ MORE
The pressure to live a secure retirement has led to some counterintuitive views about just what will help workers get themselves there.  While 66% of American workers are still planning to supplement their personal savings with income from Social Security, 42% also don’t believe Social Security... READ MORE
After enduring persistent stock market volatility throughout 2018 and the beginning of 2019, Americans seem to have adapted to this "new normal," a new study reveals.  Given the ongoing volatility, Americans remain cautiously optimistic, with one-third of respondents saying they are comfortable... READ MORE
The Garden State has formally proposed a new uniform fiduciary standard – and there’s some good news.  Issued April 15 by New Jersey Attorney General Gurbir Grewal and the state’s Bureau of Securities, the proposed rule would establish by regulation a common law fiduciary duty and apply it to... READ MORE
So you think your data is safe? It probably isn't, as keynote speaker Kevin Mitnick, “the world’s most famous hacker” and bestselling author, demonstrated at the 2019 NAPA 401(k) Summit.   Mitnick, once on the FBI’s Most Wanted list, is now a trusted security consultant to Fortune 500 companies... READ MORE
Increasing concern about transforming accumulated savings into a secure retirement is driving interest in income-generating vehicles via workplace retirement plans, according to new survey results. BlackRock’s DC Pulse Survey of more than 1,000 DC plan participants and more than 200 plan sponsors... READ MORE

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