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Ted Godbout

With the markets taking a beating throughout much of 2022, 401(k) investors apparently sought the safety of fixed income through their trading activity, yet equities were still very much in demand, according to the Alight Solutions 401(k) Index. The firm’s 2022 observations show that 184 out of... READ MORE
While the long-term economic impact of the pandemic remains unclear, one thing that is clear is the highest inflation in decades has forced many Americans to reevaluate their retirement saving habits. This is according to a new survey from U.S. News & World Report’s 360 Reviews revealing that... READ MORE
To address the ongoing retirement savings gap, all but three states have initiated or passed legislation to set up a state-sponsored retirement savings plan (SSRP), and while early implementation efforts so far have been successful, a new report suggests there’s room for improvement.  Indeed,... READ MORE
In a changing of the guard, Rep. Jason Smith (R-MO) has been selected by the House Republican leadership to take over as chairman of the powerful House Ways and Means Committee, but what does that mean for retirement policy? Overall, Rep. Smith appears to be somewhat of a blank slate in this area... READ MORE
The pandemic years apparently ushered in a workforce cultural shift among younger workers who have set their sights on working hard now in order to retire at an earlier age.   In a study of 3,000 working Americans, experience management firm Qualtrics found that more than a third (35%) of workers... READ MORE
For many years now, Congress has tried to make it easier for small businesses to offer a retirement plan, but there still has been little movement in closing the coverage gap.   With enactment of the SECURE 2.0 Act and one of its main goals to help make it easier for small businesses to offer a... READ MORE
Capping off months of anticipation and hard work, the SECURE 2.0 Act of 2022 is now law, since the President signed the legislation Dec. 29 after it was flown down to him while on vacation in St. Croix, U.S. Virgin Islands.  The final SECURE 2.0 legislation[1] was included in Division T of the... READ MORE
Confident about their careers and in their ability to achieve financial security, the nation’s youngest adults have a goal of retiring before they reach age 60, but that confidence comes with a few caveats, according to a new study.   Data from Northwestern Mutual's 2022 Planning & Progress... READ MORE
While Americans worried most about the impact of the COVID-19 pandemic earlier this year, they now see rising inflation as the biggest risk to their retirement plans.  According to Allianz Life’s annual New Year’s Resolutions Study, nearly half (48%) of respondents identified the pandemic as the... READ MORE
As the country withstands uncertain times, Americans are feeling less-than-optimistic when it comes to the year ahead and many plan to focus more on short-term needs, rather than long-term goals, according to a new study by Fidelity Investments.  The firm’s 14th Annual New Year’s Financial... READ MORE
The 401(k) and matching programs are still the most highly sought-after benefits — yet with financial pressures on the rise, employees are craving financial stability above all and are looking towards their employers for more support than ever, a new survey finds. Betterment at Work’s 2022... READ MORE
While it came down to the wire, both the House and Senate have now approved the much-anticipated SECURE 2.0 Act of 2022 as part of the mammoth $1.7 trillion omnibus spending bill.  For months, it was anticipated that Congress would attach a final SECURE 2.0 package to a year-end spending bill, but... READ MORE
Rep. Andy Barr (R-KY) and Sen. Mike Braun (R-IN) have introduced a Congressional Review Act (CRA) measure in the House and Senate, respectively, to nullify the Department of Labor’s recently finalized rule to greenlight environmental, social and governance (ESG) investing in federal pension plans... READ MORE
There’s a lot still to unpack in the new SECURE 2.0 Act of 2022, but 24 hours after its publication, here are some additional highlights. First off, it’s worth reiterating that the legislation still needs to be approved by both the House and Senate, and signed by President Biden. At this point,... READ MORE
A new study finds that engaged 401(k) plan participants are saving at significantly higher rates than that of unengaged participants, demonstrating that getting people involved in their retirement planning is a key component of driving better outcomes.  According to Empower’s second annual... READ MORE
As the economic climate becomes more complex, plan design has emerged as a differentiator to help drive employee enrollment and support the company’s talent strategy, according to new research. Because 401(k) plans continue to be an essential workplace benefit, plan sponsors are emphasizing the... READ MORE
A new survey finds that, while most small and midsized U.S. businesses and their employees believe a recession is likely in 2023, most business owners continue to invest in their employees, electing to avoid salary or benefit reductions.  Instead, businesses are choosing to reduce other operating... READ MORE
The Certified Financial Planner Board of Standards (CFP Board) has released a new guide about cryptocurrency-related assets to help CFP professionals uphold the Code of Ethics and Standards of Conduct (Code and Standards) in their practices. While the same standards apply to cryptocurrency-related... READ MORE
The average account balance for retirement plan participants who invest through self-directed brokerage accounts (SDBAs) suffered further losses through the third quarter.  According to Charles Schwab’s SDBA Indicators Report, the average account balance across all plan participant investment... READ MORE
Market volatility and pandemic fears apparently were not enough to scare away younger 401(k) plan participants from investing in equities.  According to a new joint study from the Employee Benefit Research Institute (EBRI) and Investment Company Institute (ICI), younger participants—as a group —... READ MORE

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