Ted Godbout

Washington, D.C.

Writer and Editor at National Association of Plan Advisors

Writer and Editor at ASPPA

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Articles

Trump Names Acting Head of EBSA, While Nominee(s) Await Action

3 days ago | napa-net.org | Ted Godbout

President Trump reportedly has named the former chair of the Equal Employment Opportunity Commission (EEOC) to serve as acting Assistant Secretary of the Department of Labor’s Employee Benefits Security Administration (EBSA). According to a report by Bloomberg Law, Trump recently designated Janet Dhillon to serve as the acting Assistant Secretary. Although there currently is no official announcement on the White House’s website, EBSA’s website does list her as the acting Assistant Secretary.
House Approves Legislation to Expand Accredited Investor Eligibility

4 days ago | napa-net.org | Ted Godbout

The House of Representatives late Monday approved legislation to expand the eligibility criteria for an accredited investor for purposes of participating in private offerings of securities.
Modern Plan Design Helps Boost Savings Rates to All-Time Highs: Vanguard

4 days ago | napa-net.org | Ted Godbout

Despite economic pressures, 401(k) plan sponsors continued to move forward in 2024, leveraging the power of automatic solutions to help drive savings and participation rates to all-time highs. That was one of the takeaways from Vanguard’s just-released How America Saves, the firm’s annual report now in its 24th year that looks at the retirement savings behaviors of nearly 5 million American workers.
Private Assets in DC Plans? Warren’s Not so Sure

4 days ago | asppa-net.org | Ted Godbout

Empower Retirement recently announced that it will soon allow its 19 million retirement plan participants to invest in private markets, and Sen. Elizabeth Warren (D-Mass.) is seeking answers from CEO Edmund Murphy III. In a June 18 letter to Murphy, Warren, who is the ranking member of the Senate Banking, Housing and Urban Affairs Committee, questioned the reasoning behind the firm’s decision and what safeguards it’s putting in place to protect retirement savers.
Warren Presses Empower Over Push for Private Investments in 401(k)s

5 days ago | napa-net.org | Ted Godbout

Sen. Elizabeth Warren (D-Mass.) is seeking answers from Empower Retirement CEO Edmund Murphy III about the company’s recent announcement that it will soon allow its 19 million retirement plan participants to invest in private markets. In a June 18 letter to Murphy, Warren, who is the ranking member of the Senate Banking, Housing and Urban Affairs Committee, questioned the reasoning behind the firm’s decision and what safeguards it’s putting in place to protect retirement savers.
How 4 Generations of Workers Are Preparing for Retirement

1 week ago | napa-net.org | Ted Godbout

While the retirement landscape has gradually evolved over the previous decades, a new study suggests that it is now evolving so rapidly that many of the underlying assumptions across generations may no longer be dependable.
Dems Question Crypto Guidance Retraction, as Senate Passes Stablecoin Bill

1 week ago | napa-net.org | Ted Godbout

In a newly released letter to Labor Secretary Lori Chavez-DeRemer, four Senate Democrats expressed their strong concern with the Department of Labor’s (DOL) decision to rescind previous guidance warning of the risks of offering cryptocurrency in 401(k) plans.
Retirement Plans Spared in Senate’s ‘One Big Beautiful Bill’

1 week ago | asppa-net.org | Ted Godbout

The draft tax portion of the Senate’s One Big Beautiful Bill Act (OBBB) Senate Finance Committee Chairman Mike Crapo (R-Idaho) released late on June 16 does not contain any provisions that would negatively affect retirement plans.
Average 401(k) Fees Continue Their Steady Drop

1 week ago | asppa-net.org | Ted Godbout

According to the newly released 401k Averages Book, as in the last few years, the downward pressure on 401(k) plan investment and recordkeeping fees persists. Now in its 25th year, the publication confirms that both investment and recordkeeping fees are steadily declining, helping to drive lower total plan costs for employers and participants.
Senate Confirms Former Rep. Long to be IRS Commissioner

2 weeks ago | napa-net.org | Ted Godbout

Billy Long, who previously served in Congress as a representative from Missouri where he advocated for the abolishment of the IRS, was confirmed Thursday by the U.S. Senate to serve as its next commissioner. The Senate voted to confirm Long, who served in Congress from 2011 to 2023, on a party-line vote of 53-44, with three senators not voting. He will replace Michael Faulkender, who has been serving in an acting capacity since April.