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Ted Godbout

New polling by Gallup finds that American workers are retiring at later ages than those in the past three decades.  In 1991, U.S. retirees, on average, reported that they retired at age 57, but now the average reported retirement age is up to 61. Meanwhile, non-retirees’ target retirement age has... READ MORE
Retirement plan providers are increasing their efforts to encourage saving by redesigning online participant experiences with simplicity and personalization in mind, according to a new report from Cerulli.    In fact, plan providers are making sizable investments in digital technology to enhance... READ MORE
Speaking at the 2022 NAPA D.C. Fly-In Forum on July 26, one of the most influential lawmakers on retirement policy urged the delegates to press for action on the SECURE 2.0 legislation—now.  Sen. Ben Cardin (D-MD), a senior member of the Senate Finance Committee, outlined the possible paths for... READ MORE
With fee compression and other market pressures in the defined contribution space, financial planning and wealth management opportunities are becoming more attractive offerings to recordkeepers, plan advisors and other DC providers.   In fact, several DC plan providers are harmonizing their DC and... READ MORE
Speaking July 26 at the 2022 NAPA D.C. Fly-In Forum, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration outlined key priorities of the department, including finalizing the ESG rule, an update to the fiduciary rule, crypto and cybersecurity.  Ali Khawar, who has... READ MORE
The prospect of 401(k) plans adding cryptocurrency to their plan menu is like waiting for “fruit to ripen,” according to a plaintiff’s lawyer who spoke as part of a July 26 “Lessons from Litigation” panel at the 2022 NAPA D.C. Fly-In Forum.   Attorney Mark Bokyo (at right in photo), a Partner with... READ MORE
More Americans (37%) spanning generations and demographics feel unprepared or unsure if they are on track for retirement compared to the previous three years—and women are even less certain, according to a new survey. Nearly half of women (47%) report a lack of confidence, according to BlackRock’s... READ MORE
The New York-based firm has agreed to settle alleged fraud charges brought by the Securities and Exchange Commission concerning investor fees.  According to the SEC’s July 18 order, Equitable agreed to pay $50 million for providing account statements to about 1.4 million variable annuity investors... READ MORE
The Department of Treasury is requesting comments regarding potential opportunities and risks presented by the development and adoption of digital assets. The July 8 request comes following the March 28 Executive Order, “Ensuring Responsible Development of Digital Assets,” directing the Treasury—... READ MORE
Consumers and financial professionals are worried about the impact that inflation, market trends and a possible recession will have on spending power in retirement, according to the results of a new survey.    In fact, the Protected Retirement Income and Planning Study by CANNEX and the Alliance... READ MORE
There is growing interest among plan sponsors in offering a retirement income solution. But how does a DC plan sponsor go about choosing the right one? To assist in evaluating suitable product options, Russell Investments has put together a Retirement Income Buyer’s Guide for DC Plans. The guide... READ MORE
Continuing their two-decade decline, the average expense ratio paid by fund investors fell again last year, Morningstar’s annual U.S. Fund Fee Study reports.    The study, which evaluates trends in the cost of U.S. open-end mutual funds and exchange-traded funds (ETFs), found that the asset-... READ MORE
While most workers believe they are still on track for a secure retirement, the findings from a new survey suggest that many are not saving enough in light of the financial setbacks suffered during the pandemic.    According to the Transamerica Center for Retirement Studies’ (TCRS) 111-page survey... READ MORE
Broker-dealers and advisors doing business in the Silver State will want to pay attention to newly proposed regulations defining the state’s fiduciary standard, as well as broader changes to practices and procedures.   Efforts by Nevada regulators to implement guidance defining the state’s... READ MORE
With worries about inflation and ongoing market volatility running high, a new survey finds that many workers are replacing their dreams of a lavish retirement with simpler goals.  According to the survey by the Principal Financial Group, 71% of workers said their top goal in retirement is “... READ MORE
A key House Republican has released a discussion draft of financial data privacy legislation that could impact how retirement plan providers and administrators collect and share consumers’ personal information.  Rep. Patrick McHenry (R-NC), who serves as the top Republican on the House Financial... READ MORE
Paving the way for a year-end deal with the House of Representatives, one of the most powerful committees in the U.S. Senate has advanced comprehensive retirement reform legislation that has the support of the American Retirement Association. Serving as the foundation for the Senate’s counterpart... READ MORE
Based on updates to the Department of Labor’s Spring 2022 regulatory agenda, it appears that stakeholders will have to wait a little longer for the agency’s revisions to the definition of fiduciary, as well as final guidance on ESG-based factors.  Fiduciary Rewrite? The latest regulatory agenda... READ MORE
Despite record inflation, economic unrest and a global conflict, defined contribution plan participants continued to save and invest in their retirement plans at work.  That’s according to the Investment Company Institute’s Defined Contribution Plan Participants’ Activities, First Quarter 2022 ... READ MORE
The Senate Finance Committee on June 17 released the Enhancing American Retirement Now (EARN) Act—its counterpart to the House-passed SECURE 2.0—a massive piece of legislation that includes a number of key provisions supported by the American Retirement Association.  In fact, the committee has... READ MORE