Ted Godbout

Why Employers Should Care About Employee Financial Stress

By Ted Godbout 12/20/2018

While some may be dismissive of the notion, new research makes the case that employers should care about their employees’ stress levels if they aren’t already. Personal finances are a significant cause of stress, which can lead to lost productivity, a diminished ability to save for retirement and... READ MORE

Investors Rely on 401(k) Providers the Most for Financial Advice

By Ted Godbout 12/20/2018

When it comes to advice and support on how to achieve lifetime financial goals, a solid majority of respondents across all generations look to their 401(k) provider as their primary resource, new survey results show. According to a T. Rowe Price study of current workers, 64% say they rely “a great... READ MORE

Study Finds Retirees Spending More Than Anticipated

By Ted Godbout 12/19/2018

Wishing they had done more to prepare for retirement, new research finds that nearly 40% of U.S. retirees are spending more than they expected and are having to cut back on common expenses. Additionally, slightly less than half (49%) of pre-retired consumers (ages 40+) believe planning for... READ MORE

Do Americans Really Value Benefits More Than Increased Salary?

By Ted Godbout 12/18/2018

“Cash is king” may not be fully true when it comes to finding the perfect job, as a newly published survey shows that Americans favor workplace benefits over extra salary. An AICPA survey of 2,026 U.S. adults, among whom 1,115 were employed, suggests that employers need to be ready to show... READ MORE

Thinking About Offering a Student Loan Benefit Program?

By Ted Godbout 12/14/2018

Employees increasingly are looking to their employers for help with managing their student loan debt, but there are several issues employers should consider in advance, according to industry experts. In a new Employee Benefit Research Institute issue brief summarizing a web briefing — “Student... READ MORE

Retirement Provisions Remain in Retooled Lame Duck Tax Package

By Ted Godbout 12/11/2018

After seeing their earlier proposal come under attack, House Republican leaders have revised their end-of-year tax and retirement savings legislative package, and carried forward key provisions from the Retirement Enhancement and Savings Act (RESA). Beyond that, the revised package seeks to... READ MORE

Fate of Lame Duck Retirement Package Remains Hazy

By Ted Godbout 12/10/2018

Will the 115th Congress act on a broad tax and retirement savings package before adjourning? It looks like we’ll have to wait a little longer to find out. Following the memorial events following the death of President George H.W. Bush, lawmakers approved a two-week funding extension on Dec. 6 to... READ MORE

401(k) Plan Design Features Can Lead to Unintended Consequences

By Ted Godbout 12/6/2018

Effective 401(k) plan design features like auto-enrollment and auto-escalation have been shown to increase participation, boost deferral rates and improve investment diversification, but they can also bring unintended results, according to a new paper. In their paper, “Best Intentions: The... READ MORE

Financial Wellness Initiatives: Broad Interest, But Little Consensus

By Ted Godbout 12/6/2018

Many employers are interested in offering financial wellness programs to their employees, but there appears to be limited consensus on the approach, according to new research from the Employee Benefit Research Institute (EBRI). Last spring, EBRI began exploring employers’ interest in offering... READ MORE

Investors Conflicted Over Return Expectations, Risk Tolerance

By Ted Godbout 12/6/2018

Results from a new survey show that investors continue to have unrealistic expectations for investment returns, but their tolerance for risk is lower and few truly understand the ramifications of market volatility. Natixis Investment Managers’ survey of 750 individual investors in the U.S. found... READ MORE

Lame Duck Retirement Package Draws Fire

By Ted Godbout 11/29/2018

With only about two weeks left in the legislative calendar, the House of Representatives is expected to approve a revised tax and retirement savings package as early as today. But can the legislation be enacted in its current form? House Ways and Means Committee Chairman Kevin Brady (R-TX)... READ MORE

Small Employers Cite Cost, Limited Understanding for Not Offering Retirement Plan

By Ted Godbout 11/27/2018

A belief among small business employers that offering a retirement savings plan can be costly, combined with a lack of awareness of options, helps explain why many of these employers don’t even consider them, a new study suggests. Results from Millennium Trust’s inaugural Small Business Retirement... READ MORE

Small Website Enhancements Help Improve Retirement Outcomes

By Ted Godbout 11/26/2018

Making simple design enhancements to a retirement enrollment website can produce results that are similar to an employer increasing its match limit, according to a new study. Conducted in association with Voya Behavioral Finance Institute for Innovation, Saurabh Bhargava and Lynn Conell-Price of... READ MORE

HSA Investment Quality Improving, But High Fees, Transparency Remain Hurdles

By Ted Godbout 11/26/2018

HSAs continue to increase in popularity thanks to their triple tax advantages and increased adoption in health plans, but there is room for improvement, according to a new study. Morningstar’s second annual study assessing HSAs from 10 of the largest providers finds that most have improved the... READ MORE

Grassley to Chair Senate Finance Committee

By Ted Godbout 11/21/2018

In what will be his third stint as chairman, veteran senator Charles Grassley (R-IA) has decided to return as head of the powerful Senate Finance Committee. When the 116thCongress convenes in January, Grassley, 85, plans to step down from his current position as chairman of the Senate Judiciary... READ MORE

DOL Greenlights RCH Auto Portability Program

By Ted Godbout 11/13/2018

Mere days after publishing a request for comments on a proposed exemption, the Department of Labor has now issued an advisory opinion (AO) regarding a specific auto portability program. The DOL advisory opinion, dated Nov. 5, 2018, outlines the particulars of a program developed by the Retirement... READ MORE

Treasury Priority Guidance Plan Focuses on TCJA Implementation

By Ted Godbout 11/12/2018

The 2018-2019 Treasury Priority Guidance Plan includes more than 60 regulatory projects relating to implementation of the Tax Cuts and Jobs Act that the agency intends to address in the coming year. Overall, the plan contains 239 guidance projects that will be the focus of efforts through June 30... READ MORE

DOL Seeks Input on Auto Portability

By Ted Godbout 11/8/2018

The Department of Labor (DOL) wants to know what you think about auto-portability. In a Nov. 7 request for comments, the DOL noted that employees leaving their current place of employment with small account balances in the company’s 401(k) plan often either take a distribution of their retirement... READ MORE

Midterm Fallout: The Impact on Retirement Issues

By Ted Godbout 11/7/2018

UPDATED NOV. 8, 2018 As expected, the Democrats took control of the House of Representatives in the congressional midterm elections, portending a major shift in focus for retirement policy issues. Currently the party affiliation in the House stands at 219 Democrats and 193 Republicans. In the... READ MORE

What Happened to Open MEPs?

By Ted Godbout 10/30/2018

At first blush, many in the industry assumed that the Department of Labor’s proposed rules expanding access to multiple employer retirement plans would include allowing for open MEPs by unrelated employers. The idea hasn’t gone away, but it’s not included in the current DOL proposal. Issued in... READ MORE

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