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Ted Godbout

The American Retirement Association is strongly opposed to legislation moving through Congress that would prohibit arbitration of claims and discretionary clauses in all ERISA covered retirement plans.  “On behalf of the over 30,000 members of the American Retirement Association (ARA), we hereby... READ MORE
Two Senate bills have been introduced and a bicameral working group formed that seek to ease the administrative burdens for small businesses, as well as expand access to those without an employer-sponsored retirement savings plan.  Sens. John Hickenlooper (D-CO) and Susan Collins (R-ME), who both... READ MORE
In the wake of the SEC announcing a $6 billion securities fraud deal against Allianz Global Investors U.S. LLC (AGI U.S.), the firm off-loaded most of its U.S. investment management business as part of the terms of the deal.    The SEC announced May 17 that it had charged AGI U.S. and three former... READ MORE
A new survey finds that small employers are interested in learning more about pooled employer plans, although there is still some hesitancy on the road to implementation. In fact, more than half of smaller employers surveyed by the Secure Retirement Institute (SRI) that are considering a defined... READ MORE
Perhaps they have not heard of the many benefits in the SECURE Act to help with starting a retirement plan, but a new survey finds that many small business owners remain on the fence.  Apparently long-standing misperceptions about access, matching and cost remain the top barriers to adoption,... READ MORE
While the Great Resignation may have lost a bit of its novelty, it certainly is not slowing down young professionals from evaluating their next career move, including the employer benefits that are most meaningful to them.  According to Fidelity’s 2022 Career Assessment Survey, 6 in 10 young... READ MORE
As businesses contend with geopolitical issues, interest rate hikes and a shifting labor force, improving the employee experience is key for retention, the findings in a new report suggest.  Consequently, the significant role employee benefits play is more important than ever, according to the... READ MORE
In April, equity markets posted their worst month in more than two years, but 401(k) investors were holding firm, according to Alight’s April 2022 401(k) Index. Surprisingly, there were no above-normal trading days in April, and on average, 0.011% of 401(k) balances were traded daily, the firm... 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 reevaluated their strategy and plan to make changes to their business... READ MORE
While it’s fairly well-known that auto-solutions can lead to increased participation and savings, new research finds that adopting the solutions in tandem can lead to even better results.   According to Reference Point, T. Rowe Price’s annual 401(k) benchmarking report, plans which couple auto-... READ MORE
Despite the pandemic and inflation, American workers and retirees remain optimistic about living a comfortable retirement—and one key factor that has helped is having a workplace retirement savings plan. This is according to the 32nd annual Retirement Confidence Survey (RCS) measuring worker and... READ MORE
The Department of Labor’s March warning about cryptocurrency, along with Fidelity’s decision to move forward with a new “digital assets” capability for 401(k) plans, has set off a firestorm in Washington.  One of the latest developments comes from Sen. Tommy Tuberville (R-AL) who has introduced... READ MORE
Final regulations implementing changes under the SECURE Act updating the Form 5500 filing requirements and instructions for a group of plans (GoP) may be released in the coming weeks.  The White House’s Office of Management and Budget completed its review of the final regulations (RIN: 1210-AB97... READ MORE
Given the outsized impact the pandemic has had on the health care sector, it’s not surprising that employee benefits have taken center stage to help address organizational challenges.   In fact, Voya Financial’s biennial survey of retirement plan management in the health care sector conducted in... READ MORE
After filing a cloture petition on April 25 to limit debate on the nomination of Lisa Gomez to serve as Assistant Secretary of the Department of Labor, Senate Majority Leader Chuck Schumer (D-NY) was forced to withdraw the petition late April 26 after two Senate Democrats—Sens. Ron Wyden (OR) and... READ MORE
Between inflation and an international conflict, Americans’ financial behavior will likely be affected for months to come, making financial literacy even more important.  According to Primerica’s first quarter 2022 Middle-Income Financial Security Monitor, middle-income households remain concerned... READ MORE
As the rising cost of goods and services strains the wallets of many Americans, the growing concern of being able to save enough for retirement apparently is also on the rise.  Findings from Voya Financial’s consumer research survey reveal that two-thirds (66%) of Americans “agree or strongly... READ MORE
Emboldened by starting to save at an earlier age, Millennials apparently have an evolving vision of what it means to retire, with an emphasis on flexibility and lifestyle, according to a new study by Schwab.  Among the key findings in the firm’s new Retirement Reimagined Study is that while... READ MORE
Despite ongoing challenges bought about by the pandemic, 2021 withdrawal and contribution data indicate that essentially all DC plan participants continued to save in their retirement plans at work. Only 2.2% of DC plan participants stopped contributing in 2021, compared with 2.3% in 2020 and 3.4... READ MORE
“Auto everything” has solved a lot of problems, but the personalization required for decumulation strategies requires a different approach, Prof. Schlomo Benartzi suggested at an April 3 general session at the 2022 NAPA 401(k) Summit.  Benartzi, Professor Emeritus of the UCLA Anderson School of... READ MORE