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Ted Godbout

Appearing at the Employee Benefit Research Institute’s 2023 Spring Policy Forum on May 11, Lisa Gomez, Assistant Secretary for the Employee Benefits Security Administration (EBSA), told attendees that the department is busy working on getting guidance out the door.   On the retirement side, Gomez... READ MORE
According to Bank of America’s latest 401(k) Participant Pulse report, there was some good news to offset the less favorable news amid ongoing economic headwinds.  Notably, the firm’s first quarter, 2023 data shows that fewer participants took loans, but for higher amounts, while hardships... READ MORE
While the SECURE Act and SECURE 2.0 seek to make it easier for small business to offer a retirement plan, many employers that do not offer coverage still appear to be clinging to the same reasons for not doing so.  According to a new survey report by the Transamerica Institute and its... READ MORE
The impact of the pandemic over the last two years has prompted businesses of all sizes to reevaluate their benefit packages and small businesses are no exception.   In fact, nearly all small business owners surveyed (93%) have re-evaluated their strategy and plan to make changes to their business... READ MORE
Various provisions under the SECURE 2.0 Act strongly resonate with employees amid considerable changes in retirement expectations, financial conditions and workforce demographics, but the findings of a new survey suggest that more can be done to promote retirement security.  And even though nearly... READ MORE
A perceived comfortable retirement may be hard to reach for many working Americans, as most say it will take at least $1 million to do so, although most don’t expect to reach that number.   According to findings from Schroders’ 2023 U.S. Retirement Survey of 2,000 U.S. investors nationwide,... READ MORE
A new study contends that there is a growing opportunity for wealth transfers, not only among the wealthy but also among lower-asset households affected by the transition from defined benefit to defined contribution plans.  In fact, Hearts & Wallets’ research finds that nearly two-thirds of U.... READ MORE
The American Retirement Association applauds the Department of Labor’s proposed addition of a self-correction option for delinquent participant contributions and loan repayments under the Voluntary Fiduciary Correction Program (VFCP) but contends that important clarifications are needed for plan... READ MORE
Most Americans do not think they can depend on Social Security for retirement income, adding to their worries about long-term financial stability, a new study from Allianz Life finds.    According to the firm’s 2023 1Q Quarterly Market Perceptions Study, nearly three in four (74%) respondents do... READ MORE
Plan sponsor interest in keeping retiree assets in their defined contribution plans is increasing, according to new research from Cerulli Associates based off surveys and conversations with plan sponsors, consultants and DCIO asset managers. More than half (54%) of 401(k) plan sponsors prefer to... READ MORE
Workplace benefit professionals who were surveyed on a wide range of employee benefits issues looking toward 2026 predict a massive increase in employer-provided defined contribution (DC) plan coverage, particularly in the smaller plans market. Indeed, most respondents foresee 88% of employers... READ MORE
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
The path to Senate confirmation for the current nominee to lead the Department of Labor appears to be getting narrower. The latest salvo comes from House Ways and Means Committee Chair Jason Smith (R-MO), House Education and the Workforce Chair Virginia Foxx (R-NC), Speaker Kevin McCarthy (R-CA)... READ MORE
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
Even though the ink is barely dry on the SECURE 2.0 Act, there’s no rest for the weary, as some in Washington are pushing a federal government-run retirement system that would unfairly compete with the private sector, warned Brian Graff on April 2. Graff, who serves as CEO of the American... READ MORE
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
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
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
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
In the post-SECURE Act 1.0 era, plan consultants are becoming more comfortable recommending lifetime income options, but there apparently are potential obstacles with newer solutions, according to a new study.  Following passage of the SECURE Act in December 2019, more than 8 in 10 (82%) defined... READ MORE

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