Revamping Retirement

In episode 19, Mike Webb chats, once again, with J.Money, an award-winning personal finance blogger, about the impact of the pandemic on the FIRE (Financial Independence, Retire Early) movement. FIRE (Financial Independence, Retire Early) is a lifestyle movement that embraces the goal of achieving financial independence by decreasing spending and/or increasing income. Mike and J.Money discuss why now, in the middle of a pandemic and recession, individuals may want to consider adopting some of the key FIRE tenants. Will the pandemic light a flame for future FIRE movement participants?

According to a recent survey, more than 70% of employees would have some level of financial difficulty if their next paycheck was delayed by one week. Thus, the need for emergency savings to cover unforeseen expenses is clear. But how can employers encourage their participants to take control of their own financial wellness? One option, growing in popularity among retirement plan sponsors, is to offer an emergency savings account through the retirement plan recordkeeper. But are these "sidecar" accounts the best approach? In episode 18, Mike Webb and Jack Towarnicky of the American Retirement Association discuss differing views over utilizing sidecar accounts for emergency savings.

Automatic enrollment has gained significant traction over the past two decades, with nearly 71% of plans with 1000 or more participants utilizing the feature. Two recent studies by Vanguard and John Hancock share statistical data that helps highlight the overwhelming case for auto-enrollment as a defined contribution retirement plan strategy. In episode seventeen, Mike Webb discusses the statistical case for adopting auto-enrollment, as well as how finding the sweet spot for default deferrals and auto-escalation can help improve participants' retirement readiness.

Target date funds have experienced increasing popularity and growth in recent years, becoming an important investment option in many defined contribution retirement plans. In episode sixteen, Mike Webb gets back to the basics to discuss the two primary types of target date funds - "off the shelf" and customized - and shares the key components used to evalutate these investments.

On March 27, 2020, the House passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2.2 trillion dollar relief bill to counter the economic impact of the COVID-19 pandemic. The legislation contains several retirement plan-related provisions aimed at helping plan sponsors and participants deal with the implications of the pandemic. However, the nuances of three of the provisions may have some unintended consequences. In episode fifteen of Revamping Retirement, Mike Webb discusses the potential issues with these CARES Act provisions.

The market volatility and uncertainty surrounding the coronavirus pandemic have many retirement plan investors concerned. In Episode 14, Mike Webb shares some perspective on the recent market downturn and its impact on retirement plans.

Revenue sharing refers to the practice of investment providers sharing revenue with recordkeepers in exchange for performing some of the duties that the investment provider would typically have to do. Understandably, this can be a confusing topic for retirement plan sponsors. In Episode 13 of Revamping Retirement, Mike Webb simplifies the concept of revenue sharing and explains the importance of understanding a fund's net cost.

The Setting Every Community Up for Retirement Enhancement Act of 2019, better known as the SECURE Act, aims to improve retirement security for many Americans. Since its passage in December of 2019, it has readily been at the center of retirement plan dialogue. In episode twelve of Revamping Retirement, Mike Webb shares the major provisions and discusses the impact the Act may have on retirement plan sponsors and participants.

Over the past decade, the WMCHealth Network has grown significantly through mergers and acquisitions. In episode eleven of Revamping Retirement, Mike Webb chats with Jordy Rabinowitz and Tracy Tillery about how the organization successfully integrated plans and effectively communicated to participants to ultimately enhance the overall benefits for both its existing and incoming employees.

In episode ten of Revamping Retirement, Mike Webb talks with Lisa Schwartzenburg, the Assistant Director of Benefits, Wellness & Safety at Gonzaga University, about the role the university's unique culture plays in regard to their retirement plan and other employee benefits.

In episode nine of Revamping Retirement, Mike Webb chats with J.Money, an award-winning personal finance blogger and owner of the popular Budgets are Sexy website. As a notable member of the FIRE (Financial Independence, Retire Early) movement, J.Money shares his journey towards financial independence and the key tenants of FIRE, including how to adopt the philosophy without entirely sacrificing your lifestyle.

In episode eight of Revamping Retirement, Mike Webb chats with Dean Carson and Roger Smith from the State of Oregon Public Employees Retirement System (Oregon PERS) about their innovative and highly regarded Retirement Savings Expo, an annual event that provides Oregon public employees an opportunity to learn about their various benefits all in one place, with a creative and fun approach. At the Expo, employees have direct access to valuable retirement planning activities, resources, and other useful information and can meet with PERS and Oregon Savings Growth Plan (OSGP) retirement counselors, health insurance experts, and investment professionals. There are also workshops and resources tailored for everyone - from the newest public employee, to someone ready to retire. While many retirement plan sponsors struggle to engage participants, the PERS Expo has amassed a following among their employees, exceeding attendance expectations every year. Learn how the Expo got its start, how they keep their members comi

In episode seven of Revamping Retirement, Mike Webb explains the significance of missing participants.

In episode six of Revamping Retirement, Mike Webb explores the the importance of financial wellness programs to engage retirement plan participants.

In this three-part series, we take a look back at how the retirement plan industry has evolved over the past 25 years and what that means for plan sponsors today. We conclude with the one thing that has likely changed the most - fees.

In this three-part series, we take a look back at how the retirement plan industry has evolved over the past 25 years and what that means for plan sponsors today. Our second topic: plan design and investments.

In episode one of Revamping Retirement, Mike Webb explores why the stock market's short-term movements shouldn't scare retirement plan investors, the importance of staying the course and maintaining a diversified portfolio, and why retirement plan sponsors should concentrate their efforts on increasing participation and savings rates, rather than being hyper-focused on investments. Note: The content in this podcast is for institutional investors and plan sponsors. This information is intended to be educational and is not tailored to the investment needs of any specific investor. All examples of investor gains and losses are hypothetical and intended to illustrate the importance of early saving and consistent retirement contributions over time. Investment decisions should be based on an individual’s own goals, time horizon, and tolerance for risk. Nothing in this content should be considered as legal or tax advice and you are encouraged to consult your own lawyer, accountant, or other advisor before making any