Ted Godbout

The Department of Labor (DOL) proposed a proxy voting rule Aug. 31 that says fiduciaries should “refrain from spending workers’ retirement savings to research and vote on matters that are not expected to have an economic impact on the plan.”   The proposed regulation—issued with a goal of... READ MORE

The introduction to Charles Schwab’s quarterly SDBA Indicators Report perhaps best sums up the first half of the year: “There is nothing normal about the nature of this cycle.”    The firm’s quarterly report observes that the S&P 500 index dropped 34% from February 19 to March 23 and then... READ MORE

It looks like we’ll have to wait a little longer to find out whether Congress and the Trump administration include retirement plan relief in the next round of economic relief to address the ongoing COVID-19 pandemic.    The Democrat-controlled House has been deadlocked with the Republican-... READ MORE

While numerous factors were in play during the second quarter, average retirement account balances experienced double-digit growth powered largely by positive stock market performance and steady investor behavior.     Fidelity Investments’ quarterly analysis of retirement savings trends finds... READ MORE

A recent IRS Private Letter Ruling (PLR) finds that an amendment allowing employees to choose how much of an employer contribution to allocate between a profit-sharing plan and health reimbursement arrangement (HRA) would not cause the plan to be treated as a cash offering or deferred arrangement... READ MORE

If you thought the battles over fiduciary rulemaking were over, think again. Top Democrats from the House and Senate committees that oversee ERISA-based issues are calling on the Department of Labor to withdraw its investment advice package and start over.    In an Aug. 6 letter to Labor... READ MORE

The Labor Department’s new fiduciary proposal gets it right on rollovers, but needs clarity on its application to Pooled Employer Plans (PEPs) and could stand a rethink on at least one of the elements of the five-part test, according to a comment letter filed by the American Retirement Association... READ MORE

The cost of investing in equity and hybrid mutual funds through 401(k) plans fell again in 2019, continuing a downward trend that has persisted for nearly 20 years.   The Investment Company Institute reports in “The Economics of Providing 401(k) Plans: Services, Fees, and Expenses, 2019” that 401... READ MORE

In a comment letter on the Department of Labor’s (DOL) proposed rule on environmental, social and governance (ESG) factors in selecting plan investments, the American Retirement Association cautions that the proposal “could stifle investment selection, decrease participant savings rates and... READ MORE