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Ted Godbout

After waiting for more than a year since her nomination was first announced, Lisa Gomez has inally been confirmed to lead the Employee Benefits Security Administration.   In what appeared to be a party-line vote, with several senators not voting, the U.S. Senate on Sept. 29 confirmed the... 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
Despite various reports showing that many people have cut back on saving, new data by the Investment Company Institute suggests otherwise — at least  regarding defined contribution plans.  In fact, retirement saving continued to be a strong focus for DC plan participants through the first half of... READ MORE
New research finds that households with public-sector defined contribution (DC) plan participants who have a primary defined benefit (DB) plan feel more comfortable spending than those without a primary DB plan, but that comfort level may be short-sighted. According to the research conducted by... READ MORE
The massive labor disruptions caused by the pandemic led many to speculate that those disruptions would also lead to mass retirement, but new data from the U.S. Census Bureau tells another story.   To be sure, unemployment increased from 3.5% in February 2020 to a peak of 14.7% in April 2020 amid... READ MORE
Concerned about their investments and deteriorating financial health, many retirement investors are turning to their plan’s websites and apps for help, but they apparently are not finding what they need.  According to J.D. Power’s 2022 U.S. Retirement Plan Digital Experience Study, overall... READ MORE
Despite knowing they could receive larger payments, very few American workers are planning to wait until age 70—the age at which an individual reaches their maximum monthly benefit—to begin taking their Social Security benefits. According to the Schroders 2022 U.S. Retirement Survey, 86% of non-... READ MORE
With the current economic environment exacerbating the financial situation of many workers, a new white paper shares insights on how emergency savings solutions designed for low-to-moderate income (LMI) workers can improve financial security and bolster retirement outcomes.   And plan sponsors and... READ MORE
We now have legislative language for the Enhancing American Retirement Now (EARN) Act—and a quick review finds a change from the concept draft regarding catch-up contributions. In June, the Senate Finance Committee approved the EARN Act by a unanimous 28-0 vote, but the legislation at that point... READ MORE
With many workers unable to cover the cost of an emergency, a new survey finds that most would support legislation allowing them to tap into a small portion of the retirement savings account to cover the cost.  AIG Life and Retirement’s survey of more than 1,200 American workers explored how:... READ MORE
New research by the Principal Financial Group finds that many workers lack awareness of what’s in their retirement accounts — but at the same time, many don’t feel comfortable making their own investment decisions and are looking for help.  According to the research, roughly a third of U.S.... READ MORE
The volatile economic environment is contributing to a grim outlook among parents, according to the results of a new flash poll that focuses on families’ financial viewpoints.     Just half of U.S. parents feel confident they will be able to save enough for retirement or their children’s education... READ MORE
Amid high inflation and mixed economic signals, most U.S. adults admit they are worried about the possibility of a recession and are taking steps to prepare, including saving more for retirement, a new survey finds.  In fact, nearly 7 in 10 (69%) U.S. adults admit that they are worried about the... READ MORE
The pandemic has affected older Americans’ work and financial situations to a large extent, but a new issue brief finds that the retirement expectations of these respondents appear to remain the same despite these impacts.  In investigating the influence of the pandemic on participants’ working... READ MORE
While inflation is causing a significant amount of stress and anxiety, a new survey finds that most American investors remain committed to their long-term financial goals.  In the past 12 months, rising inflation has caused the greatest proportion of investors (51%) to curtail discretionary... READ MORE
A modest increase in participant elective deferral rates would enable most plan participants to attain a 75% replacement rate in retirement, according to new research by Vanguard.  To assess whether Vanguard DC plan participants are saving optimally in their current workplace retirement plan,... READ MORE
Even though average account balances have decreased, given the stock market’s decline in the second quarter, there was also good news to be found in Fidelity’s Q2 2022 Retirement Analysis.  The analysis, which is based on the savings behaviors and account balances for more than 35 million IRA, 401... READ MORE
Inflation is now the top obstacle to saving for a comfortable retirement, according to a new survey from Schwab Retirement Plan Services.  The firm’s annual nationwide survey of 401(k) plan participants finds that workers rank inflation (45%) ahead of other obstacles, including keeping up with... READ MORE
While many employers made difficult cost-cutting decisions during the pandemic, a new survey finds that most feel responsible for their employees and are addressing their needs through enhanced benefit offerings and business practices.   The report from the Transamerica Institute and its... READ MORE
While the Build Back Better legislation sought to impose limits on higher-income individuals with large retirement account balances, the newly passed Inflation Reduction Act does not contain those provisions, targeting corporate taxes instead.   Following a marathon weekend session, the Senate... READ MORE