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Ted Godbout

Additional guidance on the SECURE Act, missing participants and student loan payments are among the items listed on the updated 2022-2023 Priority Guidance Plan of the Treasury Department and IRS.  The updated Treasury/IRS plan released Nov. 4 sets forth guidance priorities for the 12-month period... READ MORE
Findings from a bi-annual survey of retirement plan decision-makers in the higher education sector show that the defined contribution (DC) plan is the No. 1 most important benefit for attracting and retaining talent. What’s more, 90% also agree that a DC retirement plan helps attract high-quality... READ MORE
Employees increasingly are concerned about their household’s financial well-being and most describe their level of debt as a problem, which could affect their ability to save for retirement, a new survey finds.  Six in 10 employees (60%) are at least moderately concerned about their household’s... READ MORE
While a million dollars may sound like a lot of money, in reality, it’s only “table stakes” in funding a retirement that could last 25 to 30 years, a new report suggests.  Even before suffering losses in their 401(k)s and other retirement vehicles this year, high net worth individuals (HNWIs) were... READ MORE
While the 401(k) remains the top retirement savings vehicle for today’s workers overall, Gen Z and Millennial workers are more likely to seek out a wider range of resources, from investment options and vehicles to financial wellness tools and advice.  According to Schwab Retirement Plan Services’... READ MORE
With most U.S. employees financially stressed and worried about inflation, the ability to retire is now a top concern of employees, the results of a new study reveal.   In fact, the ability to retire is now the #2 concern of employees this year, behind only covering monthly expenses, according to ... READ MORE
While a million dollars may sound like a lot of money, in reality, it’s only “table stakes” in funding a retirement that could last 25 to 30 years, a new report suggests.  Even before suffering losses in their 401(k)s and other retirement vehicles this year, high net worth individuals (HNWIs) were... READ MORE
Results from the Employee Benefit Research Institute’s (EBRI) 2022 Spending in Retirement Survey finds that many retirees are reporting that their expenses are higher than expected.    In assessing how spending patterns and retirement well-being have changed since 2020, EBRI’s survey of nearly 2,... READ MORE
While most employees plan to rely on 401(k) savings to be their largest source of retirement income, only a small portion are confident in their ability to generate a retirement income strategy and most worry they will run out of money in retirement, a new survey finds.    In fact, findings from... READ MORE
Just as the Department of Labor (DOL) gets set to release a final regulation allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, another bill has been introduced in Congress that seeks to dial that back.  The Safeguarding... READ MORE
Currently, there are four generations in the workforce, each bringing a diverse set of perspectives, skills and expertise, and based on their life stage, a diverse set of priorities and expectations for retirement.   To get a better understanding of these various perspectives and priorities, the... READ MORE
Americans across generations face a vortex of challenges that are hindering their ability to save, leaving many with less than 50% of income replacement in retirement, according to an annual survey by Goldman Sachs Asset Management.        In fact, findings from the firm’s Retirement Survey &... READ MORE
Even though COVID concerns are fading, new concerns over inflation and economic uncertainty are adding to increased financial stress among employees, who increasingly are looking to their employers for support and guidance, including with retirement planning.  In fact, today’s economic environment... READ MORE
Most of today’s workforce continues to embrace remote work policies over going to the office, but a new survey finds that location may affect much more than just the daily commute. In fact, MetLife’s annual open enrollment survey found that nearly half (45%) of remote workers are struggling to... READ MORE
As Americans experience the impact of inflation, a new survey finds that employee interest in guaranteed lifetime income investment options has increased since 2021, but certain barriers may be holding employees back.  This is according to Nationwide Retirement Institute’s survey of more than 500... READ MORE
After a year of solid gains, price declines and turbulence in bond and equity markets took a heavy toll on defined contribution investment-only (DCIO) assets in the first half of 2022, according to an annual study of the DCIO market. Now in its 16th year, Sway Research’s “The State of DCIO... READ MORE
Though final regulations are still pending, the Department of Treasury and IRS have essentially reaffirmed guidance for DC plans on required minimum distributions (RMDs), addressing questions surrounding the 10-year distribution rules under the SECURE Act and providing relief for certain... READ MORE
Health savings account (HSA) assets have grown at a 31% annualized growth rate over the past 15 years, and while the industry has improved its offerings in that time, more can be done, according to a new report.   The rapid adoption of high deductible health plans (HDHPs) has helped grow the still... READ MORE
Now that the U.S. Senate has confirmed Lisa Gomez to serve as Assistant Secretary for the Department of Labor’s Employee Benefits Security Administration (EBSA), a lengthy to-do list awaits her attention.   Since the start of the current administration, Ali Khawar has been serving as Acting... READ MORE
With feelings of financial wellness hitting a five-year low among employees, employers increasingly are turning to financial wellness programs to address employee stress and improve retention, according to a new report.   Findings from Bank of America’s 12th annual Workplace Benefits Report— ... READ MORE