401(k) Specialist Issue 2 - 2019 - 2

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401(K) PRACTICE MANAGEMENT
How 'Physical Workers' Feel About their Retirement Prospects
If anyone needs a bit of rest and relaxation after a lifetime of hard work, it's laborers in physically
demanding jobs.
Yet few " physical workers " feel they are on track to meet their estimated retirement income needs (31 percent
U.S., 21 percent global), according to a global research report released today.
And it's a problem.
These workers self-identified as having jobs that involve extensive or sustained periods of physical activity,
e.g., agricultural roles, construction and building trades, metal workers, miners and drilling, manufacturing and
machine operators, military personnel, emergency responders, cleaning crews, etc., the study notes.
Among those who self-identified as physical workers, a " portrait " emerges:
* Most physical workers are men (66 percent U.S., 60 percent global).
* Most physical workers are under the age of 40. In the U.S., they have a median age of 36 (age 37 global),
with 45 percent under the age of 35 (43 percent global).
* About half of physical workers have an undergraduate degree or higher (49 percent U.S., 50 percent global).
401(K) FIDUCIARY: 401(k) Fiduciary Well-Being and the Importance of Trust
As a 401(k) specialist, you're probably considering, or you're already broadening, your services to extend
well beyond traditional retirement plans.
You might be helping employers to manage their health care costs, add an HSA, or implement a financial
wellness program.
These are all very positive developments, but only if they're part of a defined strategy that has been intentionally
designed to provide employees a sense of fiduciary well-being.
The timing couldn't be better for rolling out integrated benefits and services. For the first time in more than a
decade, there is evidence that employees are beginning to put more trust in their employer.
401(K) INVESTMENTS: 401(k) Investor Tax Bill DOA Now, Could Resurface?
With a Republican-controlled Senate and President Trump, there's virtually no chance The Wall Street Tax
Act of 2019, recently introduced by the Democrats that critics argue amounts to " an across-the-board fee
increase on 401(k) plans, " will pass this year as written.
But its introduction could raise the profile on the controversial issue of taxing investors, and a similar bill
could gain serious consideration down the line if Dems gain power in Washington.
Sens. Brian Schatz (D-HI) and Chris Van Hollen (D-MD) along with Rep. Peter DeFazio (D-OR) introduced the
bill, which seeks to tax the sale of stocks, bonds and derivatives at a rate of 0.1%, which equates to 10 cents per
$100 of transactions.
" Over the last decade, Wall Street has made record profits from high-risk trades that have made the
market dangerously volatile, while doing nothing to add real value to our economy or raise wages for
workers. My bill will help discourage this kind of risky, volume-based trading and bring in billions in new
revenue. " Sen. Schatz said.
" Risky financial behaviors like near-instantaneous high-volume trades have destabilized our financial
markets while contributing nothing to the economy, " said Rep. DeFazio. " This legislation will curb unnecessary
speculation and generate much-needed revenue to help the federal government fund national priorities and
invest in the real economy to benefit all Americans. "
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ISSUE 2 2019 | 401kSpecialist.com
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CONTRIBUTING WRITERS
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ADVISORY BOARD MEMBERS
Roger Levy, Cambridge Fiduciary Services
Ann Schleck, Ann Schleck & Co.
Skip Schweiss, TD Ameritrade Institutional
Bill Thomas, ActiveETF Partners, LLC.
Bud Verfaillie, Victory Fiduciary Consulting
Ashley Verfaillie-Rosser, Victory Asset Management
Victory Fiduciary Consulting
Don Trone, Founder and CEO, 3ethos
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401(k) Specialist Issue 2 - 2019

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