Ted Godbout
By Ted Godbout 7/25/2018
Building on the tax cuts enacted last year as part of the Tax Cuts and Jobs Act, Rep. Kevin Brady (R-TX), Chairman of the House Ways & Means Committee, released a "Tax Reform 2.0" framework July 24 that he plans to push this fall.
The two-page outline includes three main components: make the...
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By Ted Godbout 7/18/2018
In addition to being an administrative headache, the inability to locate terminated participants of qualified retirement plans can result in heightened legal risks, a recent blog post reminds readers.
The law firm of Bond, Schoeneck & King in its post, “Legal Risks Associated with a Retirement...
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By Ted Godbout 7/18/2018
Two Republican and two Democratic senators have introduced a package of bills that would make “needed reforms” to improve retirement and economic security for individuals and families.
Citing reports that nearly half of American families do not have any retirement savings and more than a third of...
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By Ted Godbout 7/16/2018
A new study reveals a number of remarkable developments in plan design trends and participant savings behaviors among small business defined contribution plans.In Vanguard’s fifth annual “How America Saves: Small business edition,” small business DC plans experienced a surge in coverage — from...
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By Ted Godbout 7/13/2018
Many American workers are still recovering from the Great Recession, but most are focused on saving for retirement and have varying degrees of confidence they will be able to retire comfortably, according to a comprehensive study on worker perspectives.
The Transamerica Center for Retirement...
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By Ted Godbout 7/13/2018
With concerns about healthcare costs looming large for American workers, a key congressional committee just took a major step to boost health savings accounts.
The powerful House Ways and Means Committee over two days (July 11-12) separately approved a package of 11 bills aimed at expanding...
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By Ted Godbout 7/12/2018
While few current retirees take a job in their “golden years,” a new study suggests that large percentages of future retirees expect to continue working during retirement, driven by uncertainty about Social Security and their own financial preparedness.PGIM Investments’ “2018 Retirement...
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By Ted Godbout 7/11/2018
An annual study that assesses agreement between married partners on communication and knowledge of finances uncovers several disconnects related to their retirement outlook.Fidelity’s Couples & Money Study reveals that more than 4 in 10 couples disagree when asked about what age they plan to...
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By Ted Godbout 7/6/2018
New research reveals that many 401(k) plan participants still do not know what to do with their proverbial “pile of money” at retirement and need guidance.
Findings from “The Cerulli Edge ? U.S. Retirement Edition, 2Q 2018 Issue” show that participants aren’t always clear on what they should do...
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By Ted Godbout 6/28/2018
UPDATED JUNE 29
Note: On June 29, the House Ways & Means Committee indicated that the Committee has no plans to revisit Rothification as part of the new tax reform discussions. Click here for details.
There’s no rest for the weary on Capitol Hill, as what was once thought of as “dead” may rise...
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By Ted Godbout 6/20/2018
Times have been good lately for investors, with proof not only in strong market returns but also solid investor returns, according to Morningstar’s 2018 “Mind the Gap” study.Among the key takeaways from this year’s report are that the gap improved for U.S. equity, balanced and municipal bond funds...
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By Ted Godbout 6/15/2018
A recent survey of DC plan sponsors and consultants finds that when selecting a target-date strategy or other QDIA, plan sponsors were most concerned about participants’ longevity risk and their ability to achieve higher retirement account balances over the long term.T. Rowe Price’s survey, “...
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By Ted Godbout 6/15/2018
While June 13 was widely cited as the last day the Department of Labor (DOL) could appeal to the U.S. Supreme Court the 5th Circuit’s ruling vacating the fiduciary rule, that day has now come – and gone.
So now the prevailing wisdom is that the DOL fiduciary rule, as it largely existed, is now dead...
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By Ted Godbout 6/10/2018
A new report forecasts how the innovations brought on by the Pension Protection Act will continue to evolve, foreseeing a DC industry that takes on some of the traditional features of the DB industry.
In its 250th issue of The Cerulli Edge – U.S. Asset and Wealth Management Edition, Cerulli...
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By Ted Godbout 6/10/2018
President Trump has nominated Senate Banking Committee aide Elad Roisman to serve as a Republican member of the Securities and Exchange Commission (SEC).Roisman, who currently serves as Chief Counsel to the Senate Banking, Housing and Urban Affairs Committee under Chairman Mike Crapo (R-ID), would...
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By Ted Godbout 6/6/2018
The Securities and Exchange Commission (SEC) approved a proposal on June 4 that it says will improve the method for delivering fund shareholder reports to investors in mutual funds, ETFs and other investment funds.The SEC also announced that it is inviting comments on improving the fund disclosures...
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By Ted Godbout 6/1/2018
The evidence seems clear that having a written financial plan helps people stay on track and reach their financial goals, yet only one in four Americans has a plan, according to new research.
As for the top roadblock, Charles Schwab’s Modern Wealth Index study says it’s because they don’t think...
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By Ted Godbout 5/30/2018
TPAs serving 401(k) plans may want to remind their clients that they should review and update their “special tax notices” in the wake of changes to the plan loan offset rules under last year’s tax reform legislation.An article by Todd Castleton of Kilpatrick Townsend explains that changes to the...
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By Ted Godbout 5/29/2018
The average individual 401(k) and IRA balances of Fidelity clients dipped a bit in the first quarter of 2018 compared to the previous quarter, but year-over-year increases remained strong.According to Fidelity Investments’ most recent quarterly analysis of retirement savings trends and behaviors,...
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By Ted Godbout 5/23/2018
Gains in access to DC plans were offset by lower rates of access to defined benefit plans, but overall younger workers saw some improvements, according to a new study using data from 1998 to 2012.Using data from the U.S. Census Bureau Survey of Income and Program Participation (SIPP), the Pew...
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