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Ted Godbout
By Ted Godbout | 4/9/2024
To address the rising U.S. retiree population, some target-date fund (TDF) providers are now integrating annuities in their offerings to combat longevity risk and provide a stream of guaranteed income—but these vehicles may not suit all investors, a new report from Morningstar suggests.
Indeed, as...
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By Ted Godbout | 4/8/2024
Fintech provider Pontera has announced the hiring of three leaders with nearly 70 years combined experience in the defined contribution (DC) plan industry to oversee a new DC Partnerships Team.
The firm revealed that Jerry Bonnabeau will join the firm as its Head of DC Partnerships, a new role, in...
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By Ted Godbout | 4/5/2024
Facing a slew of lawsuits over its recently finalized climate disclosure rule, the Securities and Exchange Commission on April 4 announced that it will voluntarily “stay” its implementation of the rule until the legality has been addressed.
In noting that the Commission has discretion to stay its...
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By Ted Godbout | 4/5/2024
LeafHouse, iJoin, and ARS have announced a new partnership to deliver a technology-driven solution that provides a personalized savings and income experience for participants within a managed account offering.
Named the Automated Personalized Portfolio™ (APP) program, LeafHouse will be the fund...
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By Ted Godbout | 4/4/2024
Voya has expanded its lineup of nonqualified deferred compensation (NQDC) solutions with a more simplified offering that smaller-sized employers can add to their executive benefits package.
Dubbed “Business-ready,” the new offering is available to any size 409A (for-profit) company, but it has...
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By Ted Godbout | 4/4/2024
The Lincoln Financial Group announced this week that it is enhancing its retirement plan options by launching a comprehensive pooled employer plan (PEP) solution for 401(k) and 403(b) plans.
Named FlexPEP(k) and FlexPEP(b), the new “side-by-side” pooled employer solutions for businesses and not-...
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By Ted Godbout | 4/2/2024
The Department of Labor’s Employee Benefits Security Administration (EBSA) has released a final amendment to Prohibited Transaction Class Exemption 84-14—also known as the Qualified Professional Asset Manager (QPAM) Exemption.
The QPAM exemption permits various parties related to employee...
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By Ted Godbout | 4/2/2024
A new survey finds that Americans’ “magic number” for retirement has surged to an all-time high, jumping 15% in just a year and a whopping 53% since the onset of the pandemic.
As a result, Americans now believe they will need to save $1.46 million to retire comfortably, up from $1.27 million...
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By Ted Godbout | 4/1/2024
Investment consulting firm NEPC announced that Mikaylee O’Connor has joined the firm as Principal, Head of Defined Contribution (DC) Solutions.
O’Connor’s appointment became effective April 1, 2024. In addition to serving clients, O’Connor will oversee NEPC’s DC plan trends research and data...
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By Ted Godbout | 3/29/2024
Retirement plan provider Equitable, principal franchise of Equitable Holdings, announced changes to its leadership ranks this week, promoting industry veterans from within the company.
Jim Kais was named Head of its Group Retirement business, effective April 1, 2024. Kais will report to Nick Lane...
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By Ted Godbout | 3/29/2024
In recent years, there has been quite a bit of focus on lifetime income solutions and decumulation strategies, but in considering such solutions, a new survey finds that defined contribution plan sponsors may be taking a closer look at qualified longevity annuity contracts (QLACs).
This comes as...
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By Ted Godbout | 3/28/2024
Recordkeeper consolidation continues, as Ascensus and Mutual of Omaha have reached a definitive agreement where the retirement plan administrator will acquire Mutual of Omaha's 401(k) recordkeeping business, according to a March 27 announcement by the firms.
Through the transaction, Ascensus will...
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By Ted Godbout | 3/28/2024
The Colorado-based firm announced this week that it is planning to launch a new digital solution to make it easier for small employers to establish workplace retirement plans.
Launching in mid-2024, the new, end-to-end 401(k) offering will provide advisors and third-party administrators (TPAs)...
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By Ted Godbout | 3/26/2024
Nearly 4 in 10 compliance professionals from asset management, investment adviser, and private markets firms have yet to evaluate Artificial Intelligence (AI) as a cybersecurity risk, according to the findings of a new survey. What’s more, a similar amount has concerns about how the Securities and...
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By Ted Godbout | 3/26/2024
While collective investment trusts (CITs) almost caught mutual funds in 2023 as the most popular target-date vehicle, it appears likely they will overtake mutual funds by the end of 2024.
According to Morningstar’s annual Target-Date Strategy Landscape Report released March 26, CITs—which since...
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By Ted Godbout | 3/22/2024
As the Department of Labor works in court to defend its rule allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, legislation to restrict the use of ESG has been reintroduced in Congress, albeit with modifications.
Rep. Greg...
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By Ted Godbout | 3/21/2024
While a new study finds that satisfaction among clients using financial advisors has risen over the past year, it also finds, however, a growing lack of loyalty among more affluent Millennials.
According to J.D. Power's 2024 U.S. Full-Service Investor Satisfaction Study, overall investor...
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By Ted Godbout | 3/21/2024
In recognition of the urgent need to support financial wellbeing in the workforce, intellicents has partnered with AI-driven student debt and savings optimization platform Candidly to provide its clients access to Candidly’s suite of student loan and financial wellness benefits.
According to the...
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By Ted Godbout | 3/20/2024
Coming mere days after the Securities and Exchange Commission (SEC) released a final rule requiring registrants to disclose certain climate-related information, a federal appeals court has issued a temporary stay halting implementation of the regulation.
A three-judge panel of the U.S. Court of...
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By Ted Godbout | 3/20/2024
If ever there were any doubts about the benefits of having a formal financial plan to help prepare for retirement, a new study by T. Rowe Price puts that to rest.
According to the firm’s report, individuals with a formal financial plan were found to have two to four times more wealth when entering...
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