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Manufacturing May Change Benefits for the Better

Plan sponsors keeping an eye on trends in benefit plans and offerings may want to pay attention to a new field – manufacturing. Will development of new manufacturing across the U.S. change employee expectations for benefit plans?

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SECURE Act 2.0: Sponsors, Get Your Forms Ready

SECURE Act 2.0 may require a bit of work for plan sponsors and those who manage the administrative side of benefit plans. We sat down and discussed the new act with our experts. They noted three main areas sponsors may want to consider: hardship deduction tracking; changes that could significantly increase or decrease the number of participants (and by association, your costs); and how forms are worded and stored.

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What Participants Should Know: Unpaid Student Loans and Retirement Income

In an effort to build benefits packages that attract workers, many employers are adding student loan repayments to their benefits lineup. This measure was often seen as part of professions requiring advanced degrees like law and health care. But a new study may add additional weight to that decision by showing that student loans impact retirement income long after employees have graduated.

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Should We Reschedule? The Recession and the Great Wealth Transfer for Women

Several major trends may be colliding for women in investing. Three that may have the most impact are a potential recession, the Great Wealth Transfer, and the rebalancing after the she-cession. Advisors may want to engage in a careful consideration of these trends, how they interact, and what it means for asset building for women.

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Secure Act 2.0: Clients Want to Know…

Act 2.0 is full of provisions that will benefit clients of all sizes. But what we focus on and what clients care about may be different. Here are three areas that may drive client conversations over the next few months.

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New Aspect of Annuities Your Clients Will Want to Discuss

Sales of annuities are breaking records, and yet, many advisors shy away from them. Sales in 2022 topped $80.7 billion in the summer. That’s not too shabby for an asset class that causes confusion among many.

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A Round Up of Advisor Articles and A Few Predictions

For the last four or five years, every article seeking to review the past year’s events has summed up the previous twelve months as “a lot.” After so much unpredictability and turmoil in the markets, reading those future planning articles may seem less than fruitful. Yet, we still think it is important to take stock of what has happened in 2022 and look at what we think might be coming in 2023.

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Newest Suits Against Plan Sponsors Show a Pandora’s Box-Like Effect from the Hughes Case

New lawsuits against Plan Sponsors are all over the map, and not just geographically. Sponsors are now being sued for choosing funds that are too cheap. The class action suits continue their pile-on against plan sponsors. Here are a few key takeaways.

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Honesty is the Best Policy

When it comes to hiring, interviews are a two-way street. Are you marketing your benefits well? How best to be honest and open about benefits in recruiting.

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Auto-Enrolling Seasonal Workers

Seasoning isn’t just for your stuffing. Instead, seasoning may be flummoxing your benefits team. Adding those workers can add a positive boost to morale but may be a nightmare for your administrative team. Here are three key considerations to discuss with your team.

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Advisors to the Rescue – New Determination Letter Regulations May Help Ease the Pain of Taking on 403(b) Clients

Recently, the IRS stated that it will consider accepting determination letters from retirement plan sponsors of 403(b) plans starting in 2023. This relatively simple announcement could be good news for plan sponsors who run more than one type of plan and better news for financial advisors looking for new clients.

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You Take the Good, You Take the Bad, You Take them Both and There You Have the FTX

The FTX crisis may be a well-timed learning opportunity for investors seeking confidence in the markets. Read on for how financial advisors can use some of the behind-the-scenes troubles at FTX as an example of the kind of information the SEC’s on-going efforts towards making information more easily accessible to investors.

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Presenting Passive Investing with a Side of Trend Analysis

How can advisors help clients understand index funds and their place in an investment strategy? It’s all in the presentation.

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Recession – and retirement – cometh? How can plan sponsors prepare for how a recession may impact their staffing and education needs

Will there be a recession? Will it Impact retirement trends? For plan sponsors, who need to allocate budgets and recruit staff, those questions are more than theoretical. Here are our takeaways and suggestions that may help plan sponsors be prepared for the change in retirement trends caused by the slowing growth and increased inflation in 2022.

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Social Media Roundup: Five Trending Topics to Keep Your Eye On

The numbers don’t lie: these five pressing topics that are top-of-mind for employees right now.

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To Have and to Hold Until Audited: How Long (and How) to Retain Retirement Plan Documents

You may think you know how long to keep copies of previous benefit plans, but can your team answer the other important questions around retaining them?

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Projections and Statistics? How to Stay Up to Date

Projections for retirement and investment prospects for the last few years have been less than accurate. Aside from relying on professional groups and advisory sources like BCG, where can advisors turn to for reliable studies on investor trends and retirement data?

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Re-Think “Real Estate” Investing

Most renters complaining that their housing payments have increased considerably over the last two years, traditional alternative investments in rental properties may seem like a limited option. Can your clients use the increased mortgage rate (possibility of further increases) to their advantage? The answer may be in changing how your clients think about real estate.

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Advisors as Independent Contractors – Will the Gig Be Up?

The Department of Labor recently announced a major shift intended to assist so-called “Gig Workers” that may result in significant changes for financial advisors. Here is a brief summary of how we got here and where we may go.

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Financial Literacy 2.2022: Why Combining Digital FinLit with Basics is Essential

When it comes to financial literacy, student loan forgiveness and mortgage rates may be top of mind for younger plan participants. These may be areas that participants have identified as weaknesses or gaps in their knowledge, but there’s an argument to be made for focusing on the basics of financial literacy: they don’t know what they don’t know.

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The Season’s Hot New Trends

Everyone loves a three-day weekend, so wouldn’t it be grand to have them every week? Maybe in theory, but in practice it’s far more complicated than that, and can require restructuring of an organization’s workforce. So how do sponsors know if it’s right for them?

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“Financial Influencers”: Investing, Enrollment and Your Employees

There may be buzz around new laws on auto-enrollment’s impact on plan sponsors and their employees, but getting those employees to enroll and stay enrolled is still a pain point for many sponsors. If plan sponsors aren’t reaching their employees about the importance of saving for retirement, maybe there’s another option: social media influencers who post about personal finance.

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Don’t Walk Like a Duck: 3 Steps Advisors Can Take to Not Sound Like a Scam

With recession a looming possibility, there may be more fraudsters contacting the very people in your prospect pipeline. What may be worse is that fraudulent schemes have evolved to sound more like legitimate businesses. With the scammers stealing marketing methods from legitimate advisors, how can you make sure your marketing pieces don’t get confused with more nefarious folks?

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Unretirement: Boomerang Retirees

Amidst all the talk about quiet quitting, quiet managing, and the Great Resignation, another trend may be brewing: the retirement boomerang. Retirees who don't plan for their retirement income properly may boomerang back into the workforce. Advisors can help prevent this by working on education ahead of a planned retirement date.

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Worried About Market Volatility? Take a P.A.U.S.E.

It may seem like there is a lot of news about the stock market being volatile. If that’s got you concerned, here is an easy way to consider how you perceive the stock market and its fluctuations. Try taking a pause. Here are five things to remember about volatility that can help you position yourself appropriately and reduce your concerns.

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Authors

Beau Adams
Executive Vice President, BCG
John Correll
Client Relations Team Leader
Kevin Bonner
Regional Retirement Sales Director
Nina Wilkinson
Client Relations Manager
Robert Terry
Retirement Plan Sales Manager

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