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Ted Godbout

Speaking July 26 at the 2022 NAPA D.C. Fly-In Forum, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration outlined key priorities of the department, including finalizing the ESG rule, an update to the fiduciary rule, crypto and cybersecurity.  Ali Khawar, who has... READ MORE
Retirees face many financial risks, such as outliving their money, investment losses and unexpected health expenses, but a new study finds that they may be overestimating some risks while underestimating others.  In "How Well Do Retirees Assess the Risks They Face in Retirement?" by Wenliang Hou,... READ MORE
The New York-based firm has agreed to settle alleged fraud charges brought by the Securities and Exchange Commission concerning investor fees.  According to the SEC’s July 18 order, Equitable agreed to pay $50 million for providing account statements to about 1.4 million variable annuity investors... READ MORE
Amid fears of rising inflation and ongoing market volatility, 401(k) participants remained busy but cautious traders in the second quarter of 2022.  According to the Alight Solutions 401(k) Index, net trading activity significantly favored fixed income during the second quarter, with 51 out of 62... READ MORE
The Department of Treasury is requesting comments regarding potential opportunities and risks presented by the development and adoption of digital assets. The July 8 request comes following the March 28 Executive Order, “Ensuring Responsible Development of Digital Assets,” directing the Treasury—... READ MORE
Consumers and financial professionals are worried about the impact that inflation, market trends and a possible recession will have on spending power in retirement, according to the results of a new survey.    In fact, the Protected Retirement Income and Planning Study by CANNEX and the Alliance... READ MORE
There is growing interest among plan sponsors in offering a retirement income solution. But how does a DC plan sponsor go about choosing the right one? To assist in evaluating suitable product options, Russell Investments has put together a Retirement Income Buyer’s Guide for DC Plans. The guide... READ MORE
Continuing their two-decade decline, the average expense ratio paid by fund investors fell again last year, Morningstar’s annual U.S. Fund Fee Study reports.    The study, which evaluates trends in the cost of U.S. open-end mutual funds and exchange-traded funds (ETFs), found that the asset-... READ MORE
A quarterly tracking survey of experienced investors finds that education costs are having a significant impact on young investors’ ability to save for retirement, but legislative relief could be coming soon.   According to the results from E*TRADE from Morgan Stanley’s most recent wave of... READ MORE
The Congressional Research Service has issued a concise synopsis of the current policy developments surrounding the inclusion of cryptocurrency in DC plans.   The CRS, which serves as nonpartisan research staff to congressional committees and members of Congress, explains that in recent months... READ MORE
With financial wellness deteriorating over the past year, nearly a third of workers report that they are struggling financially and many are now looking to their employer for help.    In fact, 3 in 10 workers in the U.S. are struggling financially and more than two in five workers are having... READ MORE
A new study suggests that the next generation of workers, led by Millennials and Gen Z, is more focused on addressing short-term financial challenges than longer-term goals.    Consequently, the next generation of employees, hindered by inflation and debt, has prioritized becoming financially... READ MORE
Broker-dealers and advisors doing business in the Silver State will want to pay attention to newly proposed regulations defining the state’s fiduciary standard, as well as broader changes to practices and procedures.   Efforts by Nevada regulators to implement guidance defining the state’s... READ MORE
While most workers believe they are still on track for a secure retirement, the findings from a new survey suggest that many are not saving enough in light of the financial setbacks suffered during the pandemic.    According to the Transamerica Center for Retirement Studies’ (TCRS) 111-page survey... READ MORE
With worries about inflation and ongoing market volatility running high, a new survey finds that many workers are replacing their dreams of a lavish retirement with simpler goals.  According to the survey by the Principal Financial Group, 71% of workers said their top goal in retirement is “... READ MORE
The downward trend in the expense ratios that 401(k) plan participants incur for investing in mutual funds continued in 2021, according to a new report from the Investment Company Institute.  For equity mutual funds, the average expense ratios incurred by 401(k) investors declined from 0.39% in... READ MORE
A key House Republican has released a discussion draft of financial data privacy legislation that could impact how retirement plan providers and administrators collect and share consumers’ personal information.  Rep. Patrick McHenry (R-NC), who serves as the top Republican on the House Financial... READ MORE
In a testament to the willingness of plan sponsors to implement smart plan design, retirement plan participants broke new savings records in 2021, yet there is still more to be done, according to Vanguard’s newest edition of How America Saves.  The firm notes that it saw record-high participation... READ MORE
Paving the way for a year-end deal with the House of Representatives, one of the most powerful committees in the U.S. Senate has advanced comprehensive retirement reform legislation that has the support of the American Retirement Association. Serving as the foundation for the Senate’s counterpart... READ MORE
Based on updates to the Department of Labor’s Spring 2022 regulatory agenda, it appears that stakeholders will have to wait a little longer for the agency’s revisions to the definition of fiduciary, as well as final guidance on ESG-based factors and additional Form 5500 changes.  Fiduciary Rewrite... READ MORE

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