Ted Godbout

Washington, D.C.

Writer and Editor at National Association of Plan Advisors

Writer and Editor at ASPPA

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Articles

Will the Tariffs Affect the 2026 Social Security COLA?

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

The recently announced across-the-board tariff policy didn’t necessarily have an impact on current projections for the 2026 Social Security COLA, but that could change. Estimates by The Senior Citizens League (TSCL) based on consumer price data for March predict that the 2026 COLA will be 2.3%, which is 0.1 percentage points higher than last month’s prediction and 0.2 percentage points lower than the 2.5% COLA for 2025. Overall, inflation edged down last month, albeit very slightly.
DOL Asks for 60 Days More RE Fiduciary Rule Litigation

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

The Department of Labor (DOL) on April 14 asked for more time to determine its next steps on the consolidated federal court case challenging the retirement security rule finalized under the previous administration. According to the motion filed with the U.S. Court of Appeals for the Fifth Circuit by the Department of Justice, the DOL is requesting an additional 60 days.
Financial Finesse Names New President for Next Phase of Growth

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

To accelerate growth and meet rising demand for financial coaching, Financial Finesse has announced the appointment of industry veteran Todd Lacey as President. Lacey, who has nearly 30 years of experience leading high-growth companies, will play a critical role in driving the next phase of Financial Finesse's expansion and meeting the growing demand for personalized financial coaching solutions, the firm noted in its announcement.
DOL Seeks More Time on Fiduciary Rule Litigation

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

The Department of Labor on Monday requested additional time to determine its next steps on the consolidated federal court case challenging the retirement security rule finalized under the Biden administration. According to the motion filed with the U.S. Court of Appeals for the Fifth Circuit by the Department of Justice, the DOL is requesting an additional 60 days. This past February, the Fifth Circuit previously granted the DOL a 60-day stay so that the department could consider its next steps.
Americans’ ‘Magic Number’ for Retirement Drops with Inflation

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

After a considerable jump from the previous year, Americans’ “magic number” to retire comfortably in 2025 is $200,000 less than last year and nearly flat with 2022 and 2023 estimates. According to Northwestern Mutual’s 2025 Planning & Progress Study, the amount that Americans believe they will need to retire comfortably in 2025 is $1.26 million, down from $1.46 million in 2024, and on par with the $1.27 million and $1.25 million cited in 2023 and 2022, respectively.
Tax Cut Extension May Be on the Horizon

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

The House of Representatives on April 10 pushed forward with a cliffhanger vote, approving the Senate’s budget blueprint that sets the stage for making the Tax Cuts and Jobs Act (TCJA) permanent. The House voted 216-214 to pass the Senate Amendment to H. Con. Res. 14, with two Republicans and all Democrats voting against the measure, while two Republicans missed the vote. The Senate had voted 51-48 on Saturday to approve an amended version of the original House-passed resolution.
How the Sweeping Tariffs Might Impact the 2026 Social Security COLA

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

While the across-the-board tariff policy announced in early April didn’t necessarily have an impact on the current projections for the 2026 Social Security COLA, that could change in the coming months. Estimates by The Senior Citizens League (TSCL) based on consumer price data for March predict that the 2026 COLA will be 2.3%, which is 0.1 percentage points higher than last month’s prediction and 0.2 percentage points lower than the 2.5% COLA for 2025.
House Narrowly Approves Budget Plan, Teeing Up Tax Cut Extension

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

After having been forced to delay the vote for a day over deficit reduction concerns, the House of Representatives pushed forward with a cliffhanger vote, approving the Senate’s budget blueprint that sets the stage for making the Tax Cuts and Jobs Act (TCJA) permanent. The House on Thursday voted 216-214 to pass the Senate Amendment to H. Con. Res. 14, with two Republicans and all Democrats voting against the measure, while two Republicans missed the vote.
Atkins Confirmed by Senate to be SEC Chair

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

Paul Atkins, who was nominated by President Trump to be Chairman of the Securities and Exchange Commission, was confirmed by the U.S. Senate 52-44 in a Wednesday evening vote. Because Atkins was nominated to replace former Chairman Gary Gensler, who resigned at the start of the Trump administration, his term runs only through June 5, 2026, instead of the typical five years.
Proposal for a Federal Retirement Plan for Private-Sector Workers Reintroduced

2 weeks ago | asppa-net.org | John Sullivan |Ted Godbout

The Retirement Savings for Americans Act (RSAA), a bicameral, bipartisan bill that supporters said would give uncovered private-sector workers access to a federally run retirement plan, was reintroduced on April 7 by Rep. Lloyd Smucker, R-Pa.First introduced in December 2022 and then again in October 2023, the federal retirement plan would include a matching contribution for low- and middle-income workers, but only for those who participate in the plan.