Ted Godbout

The Senate Finance Committee Chairman apparently remains bullish on the prospects that follow-on legislation to the original SECURE Act will be enacted this year during the lame-duck session.   Speaking to reporters Nov. 15 on a press call, Sen. Ron Wyden (D-OR), who is Chairman of the tax-writing... READ MORE

Additional guidance on the SECURE Act, missing participants and student loan payments are among the items listed on the updated 2022-2023 Priority Guidance Plan of the Treasury Department and IRS.  The updated Treasury/IRS plan released Nov. 4 sets forth guidance priorities for the 12-month period... READ MORE

Employees increasingly are concerned about their household’s financial well-being and most describe their level of debt as a problem, which could affect their ability to save for retirement, a new survey finds.  Six in 10 employees (60%) are at least moderately concerned about their household’s... READ MORE

While a million dollars may sound like a lot of money, in reality, it’s only “table stakes” in funding a retirement that could last 25 to 30 years, a new report suggests.  Even before suffering losses in their 401(k)s and other retirement vehicles this year, high net worth individuals (HNWIs) were... READ MORE

With most U.S. employees financially stressed and worried about inflation, the ability to retire is now a top concern of employees, the results of a new study reveal.   In fact, the ability to retire is now the #2 concern of employees this year, behind only covering monthly expenses, according to... READ MORE

Results from the Employee Benefit Research Institute’s (EBRI) 2022 Spending in Retirement Survey finds that many retirees are reporting that their expenses are higher than expected.    In assessing how spending patterns and retirement well-being have changed since 2020, EBRI’s survey of nearly 2,... READ MORE

Just as the Department of Labor (DOL) gets set to release a final regulation allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, another bill has been introduced in Congress that seeks to dial that back.  The Safeguarding... READ MORE

Currently, there are four generations in the workforce, each bringing a diverse set of perspectives, skills and expertise, and based on their life stage, a diverse set of priorities and expectations for retirement.   To get a better understanding of these various perspectives and priorities, the... READ MORE

In comments to the Department of Labor (DOL), the American Retirement Association (ARA) argues that proposed changes to the QPAM Exemption would “needlessly” disrupt plan relationships and increase costs for plan sponsors and participants — with no obvious corresponding benefit.  The ARA’s letter ... READ MORE