Ted Godbout

Automatic Plan Features Help Participants Engage, Study Finds

By Ted Godbout 8/6/2017

Adoption of simplified features in Bank of America Merrill Lynch’s proprietary DC plans, along with making education and other resources more accessible, has fueled steady growth in employee engagement and plan enrollment, the firm reported recently.In Bank of America Merrill Lynch’s 2017 Plan... READ MORE

AICPA: Personal Financial Satisfaction Highest in 10 Years

By Ted Godbout 8/6/2017

In a sign that the worst of the financial recession is behind us, Americans reportedly are enjoying their highest levels of personal satisfaction since the fourth quarter of 2006, according to the second quarter 2017 results from the American Institute of CPAs’ “Personal Financial Satisfaction... READ MORE

Improved Tax Incentives Key to Small Plan Formation, Study Confirms

By Ted Godbout 7/28/2017

New survey results from LPL Financial suggest that well-targeted tax incentives for either starting a retirement plan or automatically enrolling employees in one may be a powerful motivator for small businesses to adopt and enhance a retirement plan for their employees.Based on the survey’s... READ MORE

Report Finds Moderate Interest in Dropping DC Plan for State-Run Plan

By Ted Godbout 7/27/2017

As more states look to establish retirement savings plans for private sector workers, a new report by LIMRA’s Secure Retirement Institute finds that 55% of DC plan sponsors indicate they are “very likely” or “somewhat likely” to stop offering their DC plan in favor of having their employees enroll... READ MORE

Senators Urge DOL to Issue Guidance on Auto Portability

By Ted Godbout 7/18/2017

To help prevent retirement plan cashout leakage when workers change jobs, Sen. Tim Scott (R-SC) and 10 other GOP Senators sent a letter to Labor Secretary Alexander Acosta asking the DOL to issue guidance clarifying the application of ERISA to auto portability features — that is, ones that help... READ MORE

Adjusting to Changing Benefit Expectations

By Ted Godbout 7/18/2017

Employees are increasingly looking to their employers for financial support and believe that employers also have a responsibility for their health and well-being.What’s most interesting about that statement is that a higher percentage of employers agree with it than employees. In fact, the percent... READ MORE

Workers Interested in Employers Providing Retirement Educational Resources

By Ted Godbout 7/17/2017

Regardless of income level, more than 60% of respondents in a new survey by MassMutual agree that they are behind when it comes to preparing for retirement, and many expressed a need for more education about retirement savings and personal financial management.The overall survey results show... READ MORE

Let SEC Take Lead on Investment Advice Standards, Witnesses Say

By Ted Godbout 7/14/2017

Witnesses at a House Financial Services subcommittee hearing July 13 largely offered their support for legislation to repeal the current DOL fiduciary rule and direct the Securities and Exchange Commission to take the lead in regulating the standards of care for investment advice.Of the five... READ MORE

Perceived Costs, Resources Top Reasons for Not Offering Retirement Plan

By Ted Godbout 7/11/2017

“Too expensive to set up” or “my organization does not have the resources” were the top two reasons cited by small to midsize businesses for not offering a retirement plan to their employees, according to new research by Pew Charitable Trusts.In a June 2017 issue brief, “Employer Barriers to and... READ MORE

Addressing Student Loan Burden Key to Helping Millennials Save for Retirement

By Ted Godbout 6/28/2017

Finding more holistic, intertwined financial management solutions to help Millennials tackle their student loan debt and assist them in saving more effectively for retirement was a key takeaway at a June 21 forum sponsored by the Women’s Institute for a Secure Retirement (WISER).Entitled “The... READ MORE

Market Gains Drove Highest Quarterly Return for DC Plans Since 2013

By Ted Godbout 6/21/2017

DC plans were on the receiving end of strong market performance during the first quarter of this year, rising 4.67%, its highest quarterly return since year-end 2013, according to the latest Callan DC Index.Despite the strong gains, Callan notes that its DC Index, which tracks performance, asset... READ MORE

Many Still Not Taking Steps Needed to Prepare for Retirement

By Ted Godbout 6/15/2017

Many are still not taking all of the steps they need to prepare for retirement and are relying on uncertainties like receiving an inheritance in planning their retirement income funding, according to a recent survey by Natixis Global Asset Management.The nationwide survey found that 78% of... READ MORE

DC Plan Participants Stay the Course with Contributions, Asset Allocations

By Ted Godbout 6/13/2017

The vast majority of DC plan participants continued making contributions to their plans in 2016 and most “stayed the course” with their asset allocations, according to the latest findings of the Investment Company Institute’s recordkeeper survey.Consistent with activity in prior years, the... READ MORE

House Approves Legislation to Repeal Dodd-Frank, DOL Fiduciary Rule

By Ted Godbout 6/9/2017

The House of Representatives approved broad-based financial overhaul legislation on June 8 that seeks to repeal major provisions of the Dodd-Frank Act, as well as the Department of Labor’s now-effective fiduciary rule.Congressional Republicans have taken aim at repealing the Dodd-Frank Act since it... READ MORE

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