Revamping Retirement

In episode 76 of Revamping Retirement, hosts Jennifer Doss and Matt Patrick delve into how AI is transforming the retirement planning industry with guest John Faustino from Fi360. John shares how AI is helping to enhance advisor efficiency, create tailored investment strategies, and improve participant engagement, while stressing the importance of maintaining human oversight to counter cybersecurity risks and avoid misinformation. The discussion also touches on the AI-driven future of retirement income solutions and the need for personalized advice in a rapidly evolving financial landscape.

In this episode, hosts Matt Patrick and Jennifer Doss discuss capital preservation investments with Steven Horner, fixed income portfolio manager at Franklin Templeton. Steven explains the differences between stable value and money market funds, emphasizing that stable value funds can offer higher returns due to longer-term investments and insurance protection. The discussion highlights various types of stable value options and key considerations for plan sponsors like transparency, cost, and termination provisions. They also touch on the current market volatility and its effects on these investments.

In episode 74 of Revamping Retirement, hosts Jennifer Doss and Pete Ruffel discuss governmental affairs with Scott Eckel, Managing Director of Legislative and Regulatory Affairs at Charles Schwab. Scott discusses his role as a lobbyist and they cover key issues such as financial regulations, e-delivery of documents, and the new administration's potential impact on tax reform and retirement policies. Scott also touches on the budget reconciliation process and its implications.

In this episode, Jessica Dickler, a personal finance writer for CNBC, joins hosts Matthew Patrick and Audrey Wheat to tackle social media's impact on financial education. How have platforms like TikTok, Instagram, and LinkedIn become go-to sources for financial advice, especially for Gen Z and millennials? Is this a perilous path, or a great new way for new generations to learn financial wellness? Tune in to discover how social media is reshaping the landscape of personal finance.

How well did your hosts do with predicting how the ever-evolving retirement plan landscape would look in 2024? [Spoiler alert: Pretty well.] Following their recap (and a few well-deserved victory laps), the team delivers an insightful forecast for 2025.

Bonnie Treichel, founder and chief solutions officer of Endeavor Retirement, joins hosts Jennifer Doss and Pete Ruffell for an in-depth analysis of key litigation trends affecting the retirement industry. The discussion focuses on the complexities and implications of ERISA lawsuits, including the surge of copycat lawsuits targeting similar fiduciary breaches. Also addressed are emerging risks such as cybersecurity and managed accounts, alongside potential impacts from the Supreme Court's Loper Bright case on agency interpretations. Plus, delve into the evolving Department of Labor regulations under the current administration and their potential effects on industry compliance and fiduciary responsibilities.

The retirement recordkeeping space has experiences significant shifts. What does that mean for the future of the industry? In episode 70 of the Revamping Retirement podcast, hosts Audrey Wheat and Matt Patrick welcome Tim Hoying and Dave Mallett of Accenture. They're two of the authors of the report Navigating Through Turbulence: Reinventing Retirement Recordkeeping. Listen in as these experts explore current challenges and future opportunities in the industry, and offer tips on how smaller recordkeepers can still thrive and compete despite those challenges.

It's been almost two years since the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, was officially implemented. Containing more than 90 provisions impacting retirement, this massive piece of legislation is described as “the gift that keeps on giving,” with some aspects still rolling out. In episode 69 of Revamping Retirement, hosts Audrey Wheat and Jennifer Doss talk with Fidelity's Angela Capek and Shanna Costa to learn what plan sponsors are saying about the ways SECURE 2.0 has disrupted the retirement industry.

In Episode 68 of Revamping Retirement, hosts Matt Patrick and Dawn McPherson welcome Bruce Harrington, vice president of strategic development at Pentegra, a provider of retirement plan and fiduciary outsourcing solutions. Harrington explains why it's a common myth that 3(16) plans are only for small companies and how it's helped organizations of all sizes fulfill their fiduciary responsibilities. The trio also review the RFP process for engaging an outside provider. Get more insights for retirement plan sponsors by subscribing to Revamping Retirement.

For 18 years, the PIMCO has conducted its annual U.S. Defined Contribution Consulting Study. One of the longest-running studies of its kind, it aims to understand what retirement consultants are thinking, seeing, and planning to do next. The firm interviews some of the most influential DC-focused consultants in the country, including advisors at CAPTRUST. The respondents this year represent 15,000 U.S. retirement plans and almost $9 trillion in assets.   In this episode of Revamping Retirement, your hosts Matt Patrick and Peter Ruffel welcome PIMCO's Vidur Mehra and Joseph Szalay to find out what's trending, what's challenging, and what's new the world of defined contributions, from plan design to evaluating retirement income solutions. IMPORTANT NOTICEPlease note that this podcast contains the opinions of the managers as of the date recorded, and may not have been updated to reflect real time market developments. All opinions are subject to change without notice. PIMCO is not responsible for the information or views communicated by representatives of other companies. This material is not indicative of the past or future performance of any PIMCO product and should not be considered as investment advice or a recommendation by PIMCO of any particular security, strategy or investment product. PIMCO has distributed this material for informational purposes only. The 2024 PIMCO US Defined Contribution Consulting Study seeks to help consultants, advisors and plan sponsors understand the breadth of views and consulting services available within the defined contribution (DC) marketplace. The 2024 study captures data, trends and opinions from 28 consulting and advisory firms who serve over 15,379 clients with aggregate DC assets in excess of $7.94 trillion. All responses were collected from January 8, 2024 through February 26, 2024.   All investments contain risk and may lose value. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Commodities contain heightened risk, including market, political, regulatory and natural conditions, and may not be appropriate for all investors. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. High yield, lower-rated securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Inflation-linked bonds (ILBs) issued by the various governments around the world are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. Repayment upon maturity of the original principal as adjusted for inflation is guaranteed by the government that issues them. Neither the current market value of inflation-indexed bonds nor the value a portfolio that invests in ILBs is guaranteed, and either or both may fluctuate. ILBs decline in value when real interest rates rise. In certain interest rate environments, such as when real interest rates are rising faster than nominal interest rates, ILBs may experience greater losses than other fixed income securities with similar durations. The value of real estate and portfolios that invest in real estate may fluctuate due to: losses from casualty or condemnation, changes in local and general economic conditions, supply and demand, interest rates, property tax rates, regulatory limitations on rents, zoning laws, and operating expenses. Stable value wrap contracts are subject to credit and management risk. Management risk is the risk that the investment techniques and risk analyses applied by an investment manager will not produce the desired results, and that certain policies or developments may affect the investment techniques available to the manager in connection with managing a strategy. Treasury Inflation-Protected Securities (TIPS) are ILBs issued by the U.S. government. Diversification does not ensure against loss.   Glide Path is the asset allocation within a Target Date Strategy (also known as a Lifecycle or Target Maturity strategy) that adjusts over time as the participant's age increases and their time horizon to retirement shortens. The basis of the Glide Path is to reduce the portfolio risk as the participant's time horizon decreases. Typically, younger participants with a longer time horizon to retirement have sufficient time to recover from market losses, their investment risk level is higher, and they are able to make larger contributions (depending on various factors such as salary, savings, account balance, etc.). Generally, older participants and eligible retirees have shorter time horizons to retirement and their investment risk level declines as preserving income wealth becomes more important. De-risking strategy is based on a function of plan funded status. As plan funded status improves, clients may be interested in reducing their plan funded status volatility by shifting out of risk assets and into liability-hedging fixed income.  Target Date Funds are designed to provide investors with a retirement solution tailored to the time when they expect to retire or plan to start withdrawing money (the "target date"). Target Date Funds will gradually shift their emphasis from more aggressive investments to more conservative ones based on their target dates. Target Date Funds invest in other funds and instruments based on a long-term asset allocation glide path, and performance is subject to underlying investment weightings, which will change over time. An investment in a Target Date Fund does not eliminate the need for an investor to determine whether a Fund is appropriate for his or her financial situation. An investment in a Fund is not guaranteed. Investors may experience losses, including losses near, at, or after the target date, and there is no guarantee that a Fund will provide adequate income at and through retirement. PIMCO does not provide legal or tax advice. Please consult your tax and/or legal counsel for specific tax or legal questions and concerns. The discussion herein is general in nature and is provided for informational purposes only. There is no guarantee as to its accuracy or completeness.  Any tax statements contained herein are not intended or written to be used, and cannot be relied upon or used for the purpose of avoiding penalties imposed by the Internal Revenue Service or state and local tax authorities. Individuals should consult their own legal and tax counsel as to matters discussed herein and before entering into any estate planning, trust, investment, retirement, or insurance arrangement. There is no guarantee that these investment strategies will work under all market conditions or are appropriate for all investors and each investor should evaluate their ability to invest for the long term, especially during periods of downturn in the market. All opinions, outlook and strategies are subject to change without notice. PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. ©2024, PIMCO  Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, CA 92660 | 800.387.4626 These materials are being provided on the express basis that they and any related communications (whether written or oral) will not cause Pacific Investment Management Company LLC (or any affiliate) (collectively, “PIMCO”) to become an investment advice fiduciary under ERISA or the Internal Revenue Code, as the recipients are fully aware that PIMCO (i) is not undertaking to provide impartial investment advice, make a recommendation regarding the acquisition, holding or disposal of an investment, act as an impartial adviser, or give advice in a fiduciary capacity, and (ii) has a financial interest in the offering and sale of one or more products and services, which may depend on a number of factors relating to PIMCO (and its affiliates') internal business objectives, and which has been disclosed to the recipient.  These materials are also being provided on PIMCO's understanding that the recipients they are directed to are all financially sophisticated, capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies.  If this is not the case, we ask that you inform us immediately.  You should consult your own separate advisors before making any investment decisions. These materials are also being provided on the express basis that they and any related communications will not cause PIMCO (or any affiliate) to become an investment advice fiduciary under ERISA or the Internal Revenue Code with respect to any recipient or any employee benefit plan or IRA because: (i) the recipients are all independent of PIMCO and its affiliates, and (ii) upon review of all relevant facts and circumstances, the recipients have concluded that they have no financial interest, ownership interest, or other relationship, agreement or understanding with PIMCO or any affiliate that would limit any fiduciary responsibility that any recipient may have with respect to any Plan on behalf of which this information may be utilized.  If this is not the case, or if there is any relationship with any recipient of which you are aware that would call into question the recipient's ability to independently fulfill its responsibilities to any such Plan, we ask that you let us know immediately.    The information provided herein is intended to be used solely by the recipient in considering the products or services described herein and may not be used for any other reason, personal or otherwise. CMR2024-0815-3786436  

A solution that gives retirees lifetime income, and plan sponsors less on their plates. Helping people sustain their income in retirement, without depleting their savings, is what drives Kelli Hueler, CEO and founder of Hueler Companies. In episode 66 of CAPTRUST's Revamping Retirement podcast, hosts Jennifer Doss and Pete Ruffel delve into Hueler's groundbreaking Income Solutions platform. Income Solutions is a lifetime income annuity marketplace with streamlined tools that can help turn retirement savings into an income stream participants won't outlive. See how this platform, and others like it, could help lighten the load for plan sponsors and reduce financial stress for plan participants Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.  

What most surprises retirees as they enter their new phase of life? In episode 65 of the Revamping Retirement podcast, Hearts & Wallets founder Laura Varas joins CAPTRUST's Matt Patrick and Audrey Wheat to talk about the topic. The trio delves into what retirees didn't expect to happen in retirement—including the surprise of retiring earlier than intended. They also explore some of the ways retirement plan sponsors can improve the services, benefits, and plans they offer, whether through advances in technology or by making money talks less intimidating. Get more insights for retirement plan sponsors by subscribing to Revamping Retirement.

Brian Graff, the CEO of the American Retirement Association, unpacks the new fiduciary rule and the implications of the expiring Tax Cut and Jobs Act. Hear how these changes can affect retirement planning on episode 64 of Revamping Retirement with hosts Jennifer Doss and Peter Ruffel.

This month's episode features an in-depth discussion on artificial intelligence (AI) between Dawn McPherson, Matt Patrick, and Mike Allen, Morningstar's Head of Technology for Workplace Solutions. They explore AI's evolving role in retirement planning, discussing its potential for personalized participant experiences, and operational efficiencies.  Highlights include: practical application of AI tools and their potential impact on retirement planning benefits of leveraging AI to enhance participant experiences and streamline backend processes challenges plan sponsors will face when it comes to governance The episode ends with practical tips from Mike Webb for enhancing the 5500 annual report filing process for ERISA retirement plan sponsors. Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.  Note: Mike Allen is an employee of Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc.

In the latest episode of Revamping Retirement, Dawn McPherson and Jennifer Doss talk with Dan Aronowitz, president of Encore Fiduciary. The three dive into litigation trends, particularly in navigating the complexities of fiduciary liability and underwriting.   Highlights include:   An overview of recent trends in retirement plan litigation, emphasizing a shift in the types of cases being filed and the implications for plan sponsors.   The significance of having a robust fiduciary process and how it can mitigate litigation risks. This includes the choice between active and passive investment options, the importance of monitoring record-keeping and investment fees, and the strategic use of fiduciary insurance.   A deep dive into fiduciary liability insurance, detailing what it covers, who should have it, and how it can protect plan sponsors from claims of breach of duty.   Discussion on specific risk factors that can make a retirement plan more susceptible to litigation and how these factors influence the underwriting process for fiduciary liability insurance.  Later, Mike Webb discusses the differences between reporting and disclosure for retirement plan sponsors in this month's Minute with Mike.    Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.   

This month on Revamping Retirement, Dawn McPherson and Matt Patrick talk with Lisa Greenwald, CEO of Greenwald Research. The three discuss the impact of caregiving responsibilities on retirement readiness. Lisa highlights that caregivers face unique challenges that often aren't addressed by employers and benefits providers, such as reduced work hours, job changes for flexibility, and financial strain. The episode also covers the landscape of retirement benefits more broadly, including trends to expand offerings for employee well-being, such as mental health and financial wellness programs.  Later, Mike Webb talks about plan fees in this month's Minute with Mike.   Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.  

This month on Revamping Retirement, Jennifer Doss introduced new co-hosts Matt Patrick, Audrey Wheat, and Pete Ruffel.   The four share their predictions for the year ahead as it relates to plan sponsors and the defined contribution space.   Predictions include:   Recordkeeper consolidation  Expanded QDIA solutions  An increase in regulation from the Department of Labor and IRS  Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.   Last Month's Episode: Episode 59: Auto-Portability with Neal Ringquist 

This month, CAPTRUST's Jennifer Doss and Audrey Wheat are joined by Neal Ringquist, executive vice president and chief revenue officer for the Retirement Clearinghouse. In this discussion on auto-portability, Neal emphasizes the advantages and benefits of auto-portability for both the participant and the plan sponsor. These benefits include: Streamlining the system, leading to increased average account balances over time Reducing administrative hassles associated with managing multiple accounts Reducing cash-out leakage, especially for individuals with lower incomes Improving retirement outcomes for participants by retaining balances In Minute with Mike, Mike Webb talks about retirement plan eligibility for part-time employees. Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.

This month, CAPTRUST's Jennifer Doss and Matt Patrick are joined by Dr. Nari Rhee, director of the Retirement Security Program at the UC Berkeley Labor Center.  In this conversation, which focuses on labor and retirement issues, Dr. Rhee emphasizes the challenges faced by low and middle-income workers in the U.S. retirement system, particularly in the private sector. The discussion touches on topics such as the inadequacy of Social Security for low-wage workers, barriers in defined contribution plans, and the impact of job characteristics on retirement benefits.   In Minute with Mike, Mike Webb covers the different types of services fiduciaries can provide under ERISA.  Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.  

In this month's episode of Revamping Retirement, Jennifer Doss and Dawn McPherson sit down with Amber Moulder and James Sheridan from Candidly. Candidly is a financial wellness platform focused on addressing student loan debt, emergency savings, retirement, and more.   This episode covers the restart of student loan payments, SECURE 2.0 and its impact on student loans, plus the demographics of Americans facing the most student debt.   In Minute with Mike, Mike Webb explains SECURE 2.0's implications for required minimum distributions. 

In this month's episode of Revamping Retirement, Jennifer Doss talks with Kimberly Plessinger and David McIntee from Kimley-Horn. They discuss the company's financial wellness initiatives, including benefits and retirement plans.   Kimley-Horn places a strong emphasis on financial wellness, especially for its younger employees,  providing educational resources and support to help employees understand the importance of saving for retirement and making informed financial decisions.  The discussion then shifts to focus on the company's transition to 3(38) discretionary services for retirement plan management. This transition helped reduce fees for plan participants while maintaining a collaborative relationship with CAPTRUST.  In Minute with Mike, Mike Webb covers the two-year delay in the implementation of the new mandatory Roth age-50 catch-up rule under SECURE Act 2.0.    Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.   Under the Investment Advisers Act of 1940, this podcast is defined as an advertisement and includes an uncompensated testimonial by a CAPTRUST client. Please be advised that clients' experiences as described in the podcast do not necessarily represent the experience of other clients. 

In episode 55 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Michael Consorte, director of university-wide benefits for SUNY. Michael shares his expertise in retirement program management, participant engagement, and adapting offerings to meet participant needs.  Michael emphasizes the importance of adopting a participant-centric approach. He discusses three main participant groups—those who are risk-averse, those who want to manage their investments, and those who want to make their own choices but lack expertise—and how SUNY tailors its benefits to address the needs of each group.  Later, Mike Webb covers the importance of a plan document.   Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.   Under the Investment Advisers Act of 1940, this podcast is defined as an advertisement and includes an uncompensated testimonial by a CAPTRUST client. Please be advised that clients' experiences as described in the podcast do not necessarily represent the experience of other clients. 

This month, Jennifer Doss and Dawn McPherson look back on the first half of the year, including a mid-year market update with CAPTRUST's Kevin Fieldman, director of investment research.   Listen to learn more about market volatility, inflation, and some SECURE 2.0 provisions that are affecting plan sponsors now and in the near future.     Later, Mike Webb breaks down the enhanced tax credit for small businesses, a new provision in SECURE 2.0.   Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.  

This month, Jennifer Doss and Scott Matheson are joined by David Stinnett, principal of strategic retirement consulting at Vanguard. Stinnett breaks down the 22nd annual “How America Saves” report, which covers trends in retirement plan design and participant behavior, including the use of financial advice programs, savings rates, and more.   Later, Mike Webb covers Roth catch-up contributions in his SECURE 2.0 series of this month's Minute with Mike.  Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.    

This month, Katie Gatti Tassin of Morning Brew's Money with Katie show joins CAPTRUST's Jennifer Doss and Scott Matheson on Revamping Retirement. Tassin is known for her financial expertise focused on the millennial generation and covering topics from long-term savings and 401(k) contributions to personal finance goals and salary negotiations.   With Jennifer and Scott, she discusses what millennials are most worried about when it comes to finance, and why saving for retirement should be a bigger priority.   Later, Mike Webb talks about the mandate of automatic enrollment in retirement plans in this month's Minute with Mike. 

In episode 51 of Revamping Retirement, Scott Matheson and Dawn McPherson are joined by John Sullivan, chief content officer at the American Retirement Association.  John has more than 25 years' experience covering financial markets in roles such as editor-in-chief of 401(k) Specialist and Investment Advisor magazines and retirement editor of ThinkAdvisor.com.   Listen to hear key takeaways from the recent National Association of Plan Advisors (NAPA) Summit in San Diego, plus some of the challenges and opportunities plan sponsors face today.   Later, Mike Webb discusses new emergency savings options from the SECURE 2.0 Act in this month's Minute with Mike.  RESOURCES: SECURE 2.0 Opportunities for Plan Sponsors | Retirement Plan (captrust.com)  Anticipating SECURE 2.0 Changes (Webinar Recording) | Retirement Plan (captrust.com) 

In episode 50 of Revamping Retirement, Jennifer Doss and Dawn McPherson talk with Chris Whitlow, CAPTRUST senior director of advice and wellness. Before joining CAPTRUST, Chris founded Edukate, a digital financial wellness platform. The three talk through what's trending in terms of financial wellness, and why it's the topic of conversation among retirement plan sponsors. Chris shares his advice to plan sponsors to identify and understand what their employees need when creating a financial wellness plan.   In Minute with Mike, Mike Webb provides insight on the SECURE 2.0 Act and student loan repayment.   ADDITIONAL RESOURCES  CAPTRUST's Financial Wellness Solution for Plan Sponsors   Home | CAPTRUST Advice 

In this month's episode of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Vanguard Senior ERISA Consultant Janet Luxton to unpack SECURE 2.0 from a recordkeeper's perspective. The three look at what's required versus what is optional in the legislation, as well as a seemingly simple question: What do you focus on first? From required minimum distributions (RMDs) to emergency savings accounts, Janet provides an interesting viewpoint on the new ruling. Also in this episode, CAPTRUST Senior Financial Advisor Mike Webb kicks off his SECURE Act Series going over 403(b)s and CITs.   Additional Resources Revamping Retirement Podcast | Episode 48: Breaking Down SECURE 2.0… (captrust.com) SECURE 2.0 Act Passes | Retirement Plans | CAPTRUST SECURE 2.0 Wealth Brief | Wealth Management | CAPTRUST

In this month's episode of Revamping Retirement, Jennifer and Scott are joined by Dawn McPherson, CAPTRUST's director of retirement plan consulting. Listen as the team breaks down SECURE 2.0 Act, which passed at the end of 2022, including their favorite—and not so favorite—provisions of the legislation and potential benefits to participants. Jennifer and Dawn discuss the new required minimum distribution (RMD) age, student loan repayment options, the IRS correction program, the paper statement requirement, and more.   Also in this episode, CAPTRUST Senior Financial Advisor Mike Webb sheds light on common misconceptions about excess deferrals for plan sponsors.  To close the show, Scott introduces CAPTRUST Director of Endowments and Foundations Heather Shanahan, who will be hosting the firm's new podcast series, Mission + Markets. Focusing on endowments and foundations, this new podcast will explore an array of topics from board turnover to RFP best practices, launching with CAPTRUST's 2022 Endowments and Foundations survey results.      Additional Resources   SECURE 2.0 Act Passes | Retirement Plans | CAPTRUST   SECURE 2.0 Wealth Brief | Wealth Management | CAPTRUST    

On this month's Revamping Retirement, Jennifer Doss and Scott Matheson look back at 2022 and recap the year's most popular episodes.  In the final episode of 2022, Jennifer and Scott discuss their favorite Revamping Retirement episodes of the year. From the changing landscape of the workforce to the importance of participant communication, the podcast covered a wide array of topics in 2022. Revamping Retirement welcomed guests to share their expertise across the industry, like economist Dr. Shlomo Benartzi and Rosalyn Brown, equity, diversity, and inclusion director for WE Inspire. Promote. Network (WIPN). Jennifer and Scott recap conversations on retirement trends, participant needs, industry regulations, and much more, plus look ahead to 2023 trends.   In Minute with Mike, Mike Webb discusses year-end plan amendment deadlines.  Want to hear about something or from someone specific on Revamping Retirement in 2023? Leave us a review and let us know!  Mentioned in the Podcast  Episode 36: Maximizing Benefits in a Tight Labor Market  Episode 37: DEI: Why Checking the Box Isn't Enough  Episode 38: The MIT Age Lab and the Workplace of the Future  Episode 40: Retirement Industry Research: Insights for Plan Sponsors  Episode 42: Save More Tomorrow 2.0: Harnessing Inertia with Dr. Shlomo Benartzi  Episode 44: Effective Participant Communication Matters  DOL ESG Policy  

On this month's Revamping Retirement, Scott Matheson and Jennifer Doss are joined by Lindsay Barnard, senior product manager at Alegeus, to discuss trends in today's Health Savings Account (HSA) industry.   The health savings account (HSA) has only been around since 2003, thanks to an amendment to the Medicare Prescription Drug, Improvement, and Modernization Act. Despite the short time on the market, these accounts can make a huge impact on a participant's retirement financial planning. In this episode of Revamping Retirement, Lindsay shares the industry trends she sees regarding HSAs for participants from her vantage point as senior product manager at Alegeus, which provides innovative software to health plan providers for programs like HSAs, flexible spending accounts (FSAs), continuation of health coverage (COBRA), and other wellness incentives. Lindsay, Scott, and Jennifer dive into questions on topics like employer HSA contributions, utilizing a spouse's HSA, and targeting amounts for healthcare needs in retirement.  Later in Minute with Mike, Mike Webb breaks down the Form 5500 filing process for plan sponsors.    Mentioned in the Podcast    How HSAs Can Help Participants Tackle Retirement Healthcare Costs (Webinar Recording)  Alegeus | SaaS-based benefit funding and payment solutions   

On this month's Revamping Retirement, Scott Matheson is joined by guest host Audrey Wheat, Manager of Vendor Analysis at CAPTRUST, along with Jon Atchison, senior lead of governance, risk, and compliance. In honor of National Cybersecurity Awareness month, the trio discuss the need for retirement plan sponsors to understand and evaluate cybersecurity risks. Audrey and Jon break down the three-pronged 2021 Department of Labor cybersecurity guidance and share how plan sponsors have evolved their approaches as well as what still needs to be done. Later, Mike Webb shares an easy but effective way to gauge the success of your retirement plan.   Mentioned in the Podcast Cybersecurity Best Practices (Webinar Recording) | CAPTRUST US Department of Labor announces new cybersecurity guidance for plan sponsors, plan fiduciaries, record-keepers, plan participants | U.S. Department of Labor (dol.gov). The guidance covers the following: Tips for Hiring a Service Provider Cybersecurity Program Best Practices Online Security Tips

  On this episode of Revamping Retirement, Jennifer Doss and Scott Matheson talk with Debra Gates, CAPTRUST manager of advice & wellness. Debra shares her thoughts on why employees are increasingly looking to employers for guidance on financial wellness and retirement readiness. She also talks about why effective communication requires plan sponsors to carefully consider the demographics of their employee population and adapt their approach for different participant groups.  As the classic view of retirement evolves, Debra discusses how new strategies, media, and initiatives can drive good behavior to help employees get on track—and stay on track—to reach their personal financial goals.  Later, Mike Webb reviews the potential plan sponsor pitfalls of grandfathering in Minute with Mike.    Mentioned in the Podcast   In a recent CAPTRUST webinar, Debra takes a deep dive into best practices for participant communications. Along with Barry Schmitt and Mike Webb, she addresses the following questions:   How do volatile markets impact participant communications?   How often should plan sponsors communicate with employees?   What are the most effective media for communicating with participants?   What are the fiduciary obligations for communicating with plan participants?   Click here to watch the webinar.   Episode 42: Dr. Shlomo Benartzi discusses the success of his revolutionary Save More Tomorrow program, the future of auto-features, and how plan sponsors can use choice architecture to help move the needle with participants.  Click here to listen.  Episode 37: In today's competitive labor market, many organizations are focused on culture and benefits as differentiators. But when it comes to diversity, equity, and inclusion (DEI), checking the box isn't enough. We chat with Rosalyn Brown—the equity, diversity, and inclusion director for WE Inspire. Promote. Network. (WIPN)—about the importance of looking at your retirement plan benefits through the lens of DEI.  Click here to listen. 

In episode 43 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Dawn McPherson, CAPTRUST's director of retirement plan consulting. Jennifer and Dawn recently attended the National Association of Plan Advisors (NAPA) D.C. Fly-In Forum, which provides an opportunity for retirement plan advisors to engage with key policymakers and get the inside scoop on what's going on in terms of legislative policy affecting the retirement industry. The two provide an update on where we're at with the Senate's Securing a Strong Retirement Act (SECURE 2.0) and the House's Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE and SHINE) Act, what needs to happen get a reconciled bill over the finish line, and the expected timeframe for doing so. They also explore some of the more significant provisions, like student loan repayment, emergency savings access, and auto-portability. On the regulatory front, Jennifer shares what she heard from Ali Khawar, the acting assistant secretary of the DOL's Employee Benefits Security Administration (EBSA)—including his cryptocurrency concerns, why cybersecurity keeps him up at night, and when we can expect to see guidance on environmental, social, and governance (ESG) investing in retirement plans. Later, Mike Webb discusses the differences between plan termination and mergers in Minute with Mike.   Show Notes: Our conversation with Jeff Bush about the Washington outlook for the retirement industry can be found here.  Our mid-year check-in discussing proposed legislation and DOL guidance can be found here. Our discussion with Dr. Shlomo Benartzi can be found here.   

In episode 42 of Revamping Retirement, Jennifer Doss and Scott Matheson talk with Dr. Shlomo Benartzi, a behavioral economist widely known for the Save More Tomorrow (SMarT) program, which he pioneered with Nobel Laureate Dr. Richard Thaler. Save More Tomorrow is a behavioral nudge designed to help employees increase their saving rates gradually over time. The SMarT program was incorporated into the Pension Protection Act of 2006 and has since helped boost the retirement savings of more than 15 million Americans through auto-enrollment and auto-escalation features. More than 25 years later, Dr. Benartzi talks about the success of the SMarT program and shares why he feels there is a big opportunity to rethink the details, particularly when it comes to incorporating technology to elevate customization. He also discusses how proposed legislation like the Securing a Strong Retirement Act of 2021 (SECURE 2.0) could help move the dial for auto-features. Shifting the focus from the accumulation phase of retirement, Dr. Benartzi talks about why auto-features are not as relevant when it comes to decumulation—which he considers to be the next big retirement industry gap. He shares why moving from a savings plan mentality to a true retirement plan approach is key and speaks to the importance of personalization when it comes to addressing the differing retirement income needs of participants. In Minute with Mike, Mike Webb shares the differences between fiduciary liability insurance and a fidelity bond.  

In episode 41 of Revamping Retirement, Jennifer Doss and Scott Matheson check in on their 2022 predictions and discuss what the second half of the year may have in store for the retirement industry. Find out where we are with the DOL Rule, environmental, social, and governance (ESG) guidance, the Securing a Strong Retirement Act of 2022—better known as SECURE 2.0—and the newly proposed Rise and Shine Act—formally known as the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for The Nest Egg Act. In Minute with Mike, Mike Webb discusses the types of investments permitted in defined contribution retirement plans.

In episode 40 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Shawn O'Brien, associate director of retirement research at Cerulli Associates, a strategic consulting and market research group focused on the financial services industry. With extensive research across industry stakeholders—from plan sponsors and participants to recordkeepers and asset managers—Shawn shares Cerulli's latest insights on key topics like the adoption of environmental, social, and governance (ESG) investing in retirement plans, plan sponsor reaction to inflation, and the prevalence of managed accounts. He also discusses what he considers to be the biggest disconnect between the demand and supply sides of the industry. Later, Mike Webb provides an overview of the taxation of Roth distributions in Minute with Mike.  

In many regards, this year is off to a turbulent start. From the war in Eastern Europe and its effects on the markets and economy to continuing inflation and labor market concerns to retirement-related regulatory and legislative developments, there is no shortage of headlines for plan sponsors to consume. In episode 38 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Chief Investment Officer Mike Vogelzang to provide context around the challenging environment investors now face. Mike recaps where we are with the bond market, interest rates, and inflation and why maintaining a long-term focus during unsettling times is key.  Later, Jennifer and Scott discuss the recent and expected regulatory and legislative developments—like the House's passage of the Securing a Strong Retirement Act of 2021 (SECURE 2.0), the DOL's cryptocurrency bulletin, and final guidance on environmental, social, and governance (ESG) investments in retirement plans—that may impact retirement plans this year. In Minute with Mike, Mike Webb breaks down the tax penalties associated with early retirement plan distributions.

In episode 38 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by John Diehl, director of applied insights at Hartford Funds on behalf of the Massachusetts Institute of Technology (MIT) Age Lab. The Age Lab is a multidisciplinary research program that works with businesses, nonprofits, and the government to understand the challenges and opportunities of longevity and emerging generational lifestyles. Its work is focused on driving innovation and practical solutions that improve the quality of life for older people. John shares the Age Lab's latest research on how shifting demographics, technology innovations, and new employee expectations are shaping the workplace of the future. With the Great Resignation and tight labor market top of mind for many employers, John explains why understanding employees and their life-stages is essential to designing benefits that attract and retain talent. He digs into what the future is female means for employers and how companies can leverage an aging population's desire to stay involved to help retain business critical expertise—and why flexibility may be the answer to both.  Later, Jennifer and Scott discuss the impact of the challenging labor market on retirement plan design. The two recap our latest webinar on the topic, discuss recent plan design and employee benefit trends, and share key plan sponsor takeaways. In Minute with Mike, Mike Webb reflects on the definition of compensation in retirement plans—which is one of the leading causes of operational errors. To learn more about the MIT Age Lab, click here. To watch the webinar recording, click here.  

In episode 37 of Revamping Retirement, Jennifer Doss and Scott Matheson sit down with Rosalyn Brown, equity, diversity, and inclusion director for We Inspire Promote Network (WIPN) to discuss why creating a culture of inclusivity can help differentiate organizations in a tight labor market. Rosalyn talks about the importance of looking at retirement plan benefits through the lens of equity, diversity, and inclusion, why the culture of money matters, and why communication is key to maintaining an inclusive culture. Later, Mike Webb joins to discuss plan sponsor considerations when it comes to vesting schedules and eligibility for employer contributions. Don't miss WIPN's upcoming Culture of Money event on February 24 at 3:00 pm ET. Click here to register.

In episode 36 of Revamping Retirement, Jennifer Doss and Scott Matheson tackle one of the predominant themes of 2022—the tight labor market. As organizations react to the newest supply chain issue, many retirement plan sponsors are scrambling to understand what they can do to differentiate their retirement plan in an effort to recruit and retain talent. Jennifer and Scott provide context on the employment squeeze and the drivers behind it. They also offer actionable ideas on how organizations can ensure their plan is competitive, highlight distinguishing features, and maximize the impact of their benefit dollars. Chief Investment Officer Mike Vogelzang joins the conversation to discuss why we should manage our market expectations in 2022 following the banner period of the past few years. Later, Mike Webb provides insight on how plan sponsors can navigate and prevent loan overutilization in Minute with Mike.

In episode 35 of Revamping Retirement, our hosts are joined by Jeff Bush, a Washington insider known for his ability to decode the often confusing tax and fiscal legislative landscape. Jeff provides an overview of what we can expect out of Washington in 2022—including a breakdown of the Infrastructure Investment and Jobs Act (IIJA) and what the Senate may cut from the House's version of the Build Back Better Act. Jeff also shares a recap of where Congress is on mandatory year-end legislation—like increasing the debt ceiling, approving government funding, and the National Defense Authorization Act (NDAA). Later, Jennifer and Scott share the key takeaways of the Securing a Strong Retirement Act (known as SECURE 2.0) and discuss what this and other proposed legislation could mean for retirement plan sponsors. In Minute with Mike, Mike Webb talks about how to prevent hardship distributions from destroying your participants' retirement savings.

In episode 34 of Revamping Retirement, our hosts are joined by Sarah Harris and Jenn McCabe from Armanino, one of the top-25 largest accounting and business consulting firms in the U.S. Armanino is challenging the status quo by tackling the diversity, equity, and inclusion (DEI) conversation head-on—with transformative results. Sarah and Jenn share why Armanino is dedicated to DEI, the changes they've made to their retirement plan and benefits package, and why helping diverse people benefits all people. They also share their perspective on how other organizations can initiate or elevate their inclusivity efforts. Later, CAPTRUST Chief Investment Officer Mike Vogelzang provides an update on the markets and economy, including his thoughts on inflation and where it is likely to be ongoing versus cyclical. He also shares why wage inflation has a silver lining despite being a loathsome topic for many employers. And don't miss Mike Webb's Minute with Mike, where he recaps the retirement plan types available to different organizations.

Did you know that October is National Retirement Security Month? In episode 33 of Revamping Retirement, Jennifer Doss and Scott Matheson talk with Matt Petersen, executive director of the National Association of Government Defined Contribution Plans (NAGDCA), the sponsoring organization of National Retirement Security Month (NRSM). Matt talks about the history of NRSM and why plan sponsors of all types may want to participate. He also shares his perspective on the legislative landscape and the key issues on the minds of his member plan sponsors. Later, Sandy Blair, director of retirement readiness at the California State Teachers' Retirement System (CalSTRS), joins to discuss CalSTRS' award-winning NRSM campaign. Sandy also shares some best practices on how plan sponsors can leverage their NRSM efforts to drive financial literacy throughout the year. In Minute with Mike, Mike Webb highlights the common mistake that plan sponsors make with small-balance cash out provisions. Looking for More? Learn more about the CalSTRS NRSM campaign here. View some of this year's NRSM campaigns on Twitter. See the 2021 National Retirement Security Month (NRSM) Senate resolution here.

In a special edition of Revamping Retirement, Jennifer Doss hosts live from the National Association of Plan Advisors (NAPA) 401(k) Summit in Las Vegas, alongside Phyllis Klein, senior director of Retirement Plan Services at CAPTRUST. Joining our hosts are two of the industry's most prominent ERISA attorneys: Fred Reish, partner in the Benefits & Executive Compensation practice group, the Investment Management group, and the Financial Services ERISA Team at Faegre Drinker; and David Levine, principal and co-chair of the Plan Sponsor Practice at Groom Law Group. Following our panel's robust conversation around current plan sponsor concerns, the latest areas of industry focus, and key takeaways from the NAPA conference, Mike Webb shares his take on the most common retirement plan loan taxation misconceptions in Minute with Mike.

In episode 31 of Revamping Retirement, Jennifer Doss and Scott Matheson talk with Greg Middleton, Senior Director of Business Development and Sales Enablement at CAPTRUST, to discuss his recent webinar on advisor requests for proposals (RFPs). Middleton provides unique industry perspective on why challenging times often drive plan sponsors to assess providers and their services and the ways RFPs can help plan sponsors understand recent market trends, cybersecurity, selection process, and more. In Minute with Mike, Mike Webb shares what plan sponsors need to know about health savings accounts (HSAs) and how they can help support successful retirement outcomes.

In episode 30 of Revamping Retirement, Jennifer Doss and Scott Matheson circle back on her predictions for 2021 and discuss where the retirement industry sits at the halfway mark of this year. Find out how plan sponsors are reacting to the increased interest in environmental, social, and governance (ESG) investing and regulatory ambiguity, what the industry expects for the SECURE Act 2.0, the benefits and pitfalls of technology, and more. Later, CAPTRUST Chief Investment Officer Mike Vogelzang chimes in to regroup on the uniqueness of this past year's market environment and provide his team's latest thoughts on the markets and economy, including interest rates, inflation, and taxes. In Minute with Mike, Mike Webb shares what plan sponsors need to know about required minimum distributions (RMDs) and why they can be such a pain point for plan participants and plan sponsors alike.

In episode 29 of Revamping Retirement, Jennifer Doss and Scott Matheson are joined by Jenny Eller, Principal at Groom Law Group and co-head of the firm's Retirement Services and Fiduciary Practice. Jenny shares her perspective on plan sponsor considerations for selecting a nondiscretionary or discretionary advisor, the reasons behind the trend towards 3(38) investment manager discretionary services, and how outsourcing investment responsibilities can impact—or even mitigate—risk in this litigious environment. In Minute with Mike, Mike Webb shares what plan sponsors need to know about pooled annuities. Later, Jon Meyer, CAPTRUST's Chief Technology Officer, provides some actionable steps that retirement plan sponsors can take to protect themselves and their participants from cybersecurity threats.

In episode 28 of Revamping Retirement, Mike Webb passes the hosting torch to Jennifer Doss and Scott Matheson, who lead the employer-sponsored retirement plan practice at CAPTRUST. The two discuss CAPTRUST's recent fee benchmarking webinar, including the future of fees, structuring fees to make retirement plans more attractive, and what tops the list of fee-related concern for plan sponsors. Later, Mike Webb shares what plan sponsors need to know about pooled employer plans, or PEPs, in Minute with Mike. To close out the episode, Doss and Matheson are joined by lead investment strategist Sam Kirby to recap the markets, discuss what's on the minds of plan sponsors, and talk about the retirement tools that can hedge against inflation risk.

In episode 27 of Revamping Retirement, Mike Webb is joined by Nevin Adams, chief content officer of the American Retirement Association (ARA). In addition to curating content, Adams serves as a prolific author of ARA’s publications. Adams has gained notoriety for correcting many of the common retirement misconceptions perpetuated by the media—an area of increasing concern as social media recirculation ramps up. Tune in to hear more about retirement myths and other key issues, such as coverage availability, state run auto IRAs, and automatic enrollment.

In episode 26 of Revamping Retirement, Mike Webb chats with Jennifer Norr, President of Women in Pensions Network (WiPN), to discuss the organization’s mission, the impact of COVID on women in the workplace, and what WiPN’s recent research findings identify as the key areas for improvement to ensure the retirement industry is more reflective of the general population.