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Ted Godbout

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
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
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
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
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
There are a surprising number of “yes” answers to this question, but not necessarily for the reasons you might think. The LIMRA Secure Retirement Institute recently followed up on a 2016 survey that found that more than half (55%) of plan sponsors said they would be “very” or “somewhat” likely to... READ MORE
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
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
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
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
The Department of Labor has released proposed rules that would expand access to multiple employer retirement plans for small employers and self-employed workers, while also maintaining fiduciary oversight. Modeled after the Association Health Plans (AHPs) concept, the proposed rules issued Oct. 22... READ MORE
The federal government’s updated unified regulatory agenda has shed light on the status of the Securities and Exchange Commission’s and Department of Labor’s efforts on investment advice and the now-vacated fiduciary rule. The SEC’s updated regulatory agenda confirms that the agency has set a... READ MORE
A program letter from the heads of the IRS’s Tax Exempt & Government Entities (TE/GE) division provides an update on the compliance, data, process and casework strategies the division plans to focus on in the coming year. Not surprisingly, implementing the Tax Cuts and Jobs Act (TCJA) will... READ MORE
Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase 2.8% in 2019, the Social Security Administration announced Oct. 11. The 2.8% cost-of-living adjustment (COLA) will begin with benefits payable to beneficiaries in January. For SSI... READ MORE
Health savings accounts (HSAs) are a high-value option with triple tax benefits that help employees prepare for health care costs in retirement, but many employees continue to miss out on the benefits, according to a new study. Willis Towers Watson’s 2018 Health Accounts Employee Attitudes Survey... READ MORE
Bipartisan legislation that would allow for electronic delivery of pension and retirement plan information was introduced in the U.S. House of Representatives Dec 11.Introduced by Rep. Jared Polis (D-CO) and Rep. Phil Roe (R-TN), along with 26 cosponsors, the “Receiving Electronic Statements to... READ MORE
If at first you don’t succeed, try, try again seems to be the motto used in a new class action lawsuit filed against New York University alleging breach of fiduciary duties for excessive plan fees in the school’s retirement plans.This new, 129-page filing (Sacerdote v. NYU Langone Hosps., S.D.N.Y... READ MORE
House Republican leaders on Nov. 2 released their much-anticipated tax reform plan that left 401(k)s and IRAs alone, but contained a number of proposals to modify various pension and retirement savings provisions. The first wave of documents released by the House Ways and Means Committee included... READ MORE
Congress has released draft legislation consistent with recent recommendations by the American Retirement Association to expand access by victims of Hurricanes Harvey, Irma and Maria to their 401(k) and similar plans without incurring IRS penalties and taxes. The draft legislation, currently named... READ MORE
Millennials are taking steps to save early for retirement, but they also have higher expectations that employers should be offering access to a retirement savings plan and socially responsive investments, according to new survey results.The Capital Group’s Wisdom of Experience survey found that... READ MORE

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