Revamping Retirement

  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:

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 act

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,

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 Min

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 pop

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 diff

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

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 non-discretionary or discretionary advisor, the reasons behind the trend towards 3(38) 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 WE | Inspire | Promote | Network (WIPN), formerly known as the Women in Pensions Network, 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.

In episode 25, Mike Webb chats with, Bob Toth, author of the popular Business of Benefits blog and founder of Toth Law and Applied Pension Professionals. With more than 35 years of experience practicing employee benefits law, Bob Toth is an expert to the experts - particularly in the areas of 403(b) plans and annuity products. Mike and Bob discuss the key to moving the needle on annuities, including how to effectively communicate the benefits of these products, the importance of pricing opaqueness, and how the SECURE act provision allowing portability may help address participant concerns. Bob also shares some of the new products being developed in the marketplace and explains why beer is essential to solving the annuity puzzle.