Episode 58
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.
Resources:
Last Month’s Episode: Episode 57: Student Loans with Candidly | Retirement Plan (captrust.com)
Public Pensions Support Race, Class, and Gender Equity in California – UC Berkeley Labor Center
Breaking Down SECURE 2.0
Episode 57
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.
Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.
Resources:
Holistic Financial Wellness with Kimley-Horn
Millennials and Retirement with Katie Gatti Tassin
Breaking Down SECURE 2.0
Episode 56
In this month’s episode of Revamping Retirement, Jennifer Doss talks with Kimberly Plessinger and David McEntee 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.
Resources:
Last month’s episode: Participant First with SUNY
CAPTRUST’s Financial Wellness Solution for Plan Sponsors
Cultivating Financial Independence | VESTED Magazine
Episode 55
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.
Resources:
Last month’s episode: Mid-Year Check-In and Market Update
Retirement Benefits that Suit a Diverse Workforce
Leveling the Retirement Savings Playing Field
Episode 54
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.
Resources:
Last month’s episode: “How America Saves,” with Vanguard
July 2023 Market Update with CIO Mike Vogelzang
Episode 53
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.
Resources:
How America Saves (vanguard.com)
Episode 52
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.
Resources
Millennial Money with Katie | Spending, investing, and taxes
Is the Old Approach to Retirement Broken? A Millennial Guide to Financial Planning | The Money with Katie Show
Episode 51
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)
Episode 50
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.
RESOURCES
CAPTRUST’s Financial Wellness Solution for Plan Sponsors
Home | CAPTRUST Advice
Episode 49
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 is required to implement versus what is optional in the legislation, as well as a seemingly simple question: What should 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