Ted Godbout
By Ted Godbout 5/12/2021
Legislation establishing a mandatory auto-IRA retirement savings program for private sector entities in the Big Apple has now been signed into law.
New York Mayor Bill de Blasio on May 11 signed the “Retirement Security for All” legislation, establishing a retirement savings program for private...
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By Ted Godbout 5/5/2021
The “SECURE Act 2.0” legislation that the House Ways & Means Committee will mark up May 5 includes several new provisions, including those championed by the ARA, as well as changes to some of the existing provisions. Here’s a closer look.
Committee Chairman Richard Neal (D-MA), along with the...
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By Ted Godbout 5/5/2021
The bill, which builds on the SECURE Act and includes several provisions advanced by the American Retirement Association, now goes to the House floor for a vote.
The Ways & Means Committee approved the Securing a Strong Retirement Act of 2021 (H.R. 2954) on May 5 by a unanimous voice vote....
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By Ted Godbout 5/4/2021
Tomorrow the U.S. House Ways & Means Committee will be focusing on a markup of what’s been called SECURE 2.0, legislation that includes a number of key provisions championed by the American Retirement Association.
According to Committee Chairman Richard Neal (D-MA), the committee will begin...
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By Ted Godbout 5/4/2021
Recognizing the precariousness of employees’ financial safety nets during the pandemic, new survey results show that supporting employee financial stability and sustainability has gained momentum within many organizations.
According to Gallagher’s 2021 Retirement Survey Report, 67% of employers...
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By Ted Godbout 5/4/2021
Legislation establishing a retirement savings program for private sector entities in New York City that includes recommendations from the ARA has been sent to the mayor’s desk for his signature.
The New York City Council approved an amended bill (Int. No. 888-A) on April 29 to create a mandatory...
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By Ted Godbout 4/30/2021
While there’s no sign of anything specifically retirement-related in the materials shared thus far, the tax plan that President Joe Biden released April 28 would impose significant tax increases on high-income earners to pay for his $1.8 trillion American Families Plan.
Detailed in a fact sheet ...
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By Ted Godbout 4/29/2021
The American Retirement Association has offered its support for newly introduced legislation that seeks to help employees save for retirement as they repay their student loans.
The Retirement Parity for Student Loans Act (S. 1443) introduced April 29 by Senate Finance Committee Chairman Ron Wyden...
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By Ted Godbout 4/28/2021
Positioning it as a way to reward work and not wealth, President Biden has released an outline of his tax reform plan that includes a capital gains tax increase, as well as increases to high-income earners.
The tax reform plan was released this morning as part of the American Families Plan to...
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By Ted Godbout 4/27/2021
It’s back! A legislative proposal has reemerged in Congress seeking to use proceeds from a tax that would hit retirement savings to pay for making public colleges and universities tuition-free.
Sen. Bernie Sanders (I-VT), chairman of the Senate Budget Committee, and Rep. Pramila Jayapal (D-WA),...
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By Ted Godbout 4/23/2021
Born between 1981 and 1996, Millennials represent the fastest-growing share of the investor market and their influence is only going to get bigger for years to come, according to a new study.
Broadridge's Insights on U.S. Investors, which looks primarily at the retail investment marketplace,...
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By Ted Godbout 4/13/2021
Despite investors’ overall confidence in reaching their retirement goals, a new survey finds that many are unsure of how they will manage and spend their money in retirement.
According to the Capital Group’s latest Wisdom of Experience investor survey, fewer than one in five American adults (19...
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By Ted Godbout 4/13/2021
The COVID-19 pandemic has reshaped the ways in which many investors are spending and saving their money, but one priority that has not changed all that much: preparing for retirement.
Among those who had previously determined when they would retire, 69% of them said their goal has not changed...
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By Ted Godbout 4/9/2021
The pending legislation would make Virginia the next state to offer a state-run retirement plan for workers who do not have access to a plan through their employer.
The VirginiaSaves bill was passed by the Virginia General Assembly in late February and sent to Gov. Ralph Northam (D) in March....
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By Ted Godbout 4/8/2021
With employee turnover climbing for small businesses, more employers are taking steps to boost retention and see employee benefits as a key to their success, according to new survey results.
Looking back one year after the start of COVID-19, business owners are reflecting on the biggest...
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By Ted Godbout 4/6/2021
One year into the COVID-19 pandemic, many Americans report that they are still struggling to save, but a solid majority say they are optimistic about their current financial future.
According to MassMutual’s Consumer Spending & Saving Index, nearly half of survey respondents (49%) say they...
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By Ted Godbout 4/1/2021
While most Americans report that the pandemic has pushed their retirement plans back by several years, many also express a cautious optimism and are making changes to improve their retirement preparedness.
According to Fidelity Investments’ 2021 State of Retirement Planning Study, more than 8 in...
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By Ted Godbout 3/29/2021
With the multiemployer relief legislation cleared from Congress’ docket, look for policymakers to turn to efforts to expand retirement plan coverage, ARA staff explained during a March 23 NAPA webcast.
Will Hansen, Chief Government Affairs Officer at the American Retirement Association, and...
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By Ted Godbout 3/29/2021
The IRS has issued guidance addressing whether amounts paid for certain personal protective equipment are treated as qualified medical expenses.
In Announcement 2021-7, the IRS clarifies that the purchase of personal protective equipment—such as masks, hand sanitizer and sanitizing wipes—that are...
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By Ted Godbout 3/25/2021
A group of Senate Republicans is unhappy with the Department of Labor’s announcement regarding its enforcement position on the final ESG and proxy voting rules.
In a March 18 letter to Al Stewart, Acting Secretary of the Department of Labor, Republican Senators Richard Burr (NC), Mike Crapo (ID)...
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