403(b)

Commentary: How do we help employees get to the point they can feel they can retire, asks columnist John Ludwig.

Of the many industry critiques of the Department of Labor's fiduciary proposal, one of the most oft-repeated is the assertion that new regulations would cut off access to advice for low- and middle income investors — precisely the segment of consumers the initiative aims to protect.

Concerns about over-regulation and accusations of industry cynicism led the opening of the Labor Department's hearings on its proposal to impose fiduciary requirements on retirement advisers — the latest phase of its contentious process to craft new rules on consumer protections.

Advisers are needed now more than ever to help individuals reach their retirement goals as employees assume the responsibility of managing their financial future.

Commentary: Adopting a new approach to participant communications that factors in the unique characteristics of each generation, as well as the specific needs and preferences of each individual, is key to building and sustaining business.

Commentary: Even though much has changed in the last 10 years, we may still describe the 403(b) market as “wild,” says The Principal’s Aaron Friedman.

Not only are 403(b) retirement plans diversified, but the average cost of offering them is slowly decreasing.

The public has until July 21 to submit comments on the proposal that would expand the fiduciary standard to thousands of brokers and advisers who provide retirement investment advice.

Generalists and small-market plan sponsors are likely to be the most negatively affected, according to a retirement conference panel.