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 Peter 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. Listen to learn how this platform, and others like it, could help lighten the load for plan sponsors and reduce financial stress for plan participants.

Get more insights for retirement plan sponsors by subscribing to Revamping Retirement.

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, chief executive officer of the American Retirement Association, unpacks the Department of Labor’s 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.

Subscribe to Revamping Retirement for more episodes with insights for plan sponsors.

Episode 63

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.

Episode 62

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.  

Episode 61

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.  

Last Month’s Episode: Episode 60: Plan Sponsor Predictions for 2024

Episode 60

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 

Episode 59

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.

Resources:

Last Month’s Episode: Episode 58: SECURE 2.0 and More with Dr. Nari Rhee

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