401(k) Specialist Issue 3 - 2022 - 2

ONLINE
401(k) POD(K)AST
Don't miss our next 401(k) Pod(k)ast!
Remember to check out the latest 401(k) Specialist Pod(k)ast for exclusive,
timely insight on the issues that matter to 401(k) advisors from the biggest
names in the retirement market. A few recent guests? Vestwell CEO Aaron
Schumm on who owns the participant and what's next for Recordkeeping
Schroders' Deb Boyden talking alternative assets, ESG, and other investment menu hot-button issues;
and intellicent's Grant Arends adding another 'F-word' to 401k fees, funds, and fiduciary.
401(k) FIDUCIARY: RMD Age-Raising EARN Act Ready for Inclusion in SECURE 2.0
Senate Finance Committee Chair and Ranking Member, Senator Ron Wyden (D-OR) and Senator Mike
Crapo (R-ID) introduced an updated version of the bipartisan Enhancing American Retirement Now
(EARN) Act in early September, which is expected to be included in the final version of the broader SECURE
Act 2.0 bill that could reach President Joe Biden's desk by the end of the year.
" The Finance Committee has worked in a bipartisan way to improve the retirement system, building on
our success in 2019. The EARN Act includes policies put forward by members on both sides of the aisle, "
Wyden said.
The proposals in the EARN Act were unanimously approved (28-0) by the Finance Committee in a markup
session in June before being introduced as legislative text. One key provision of the EARN Act would
raise the minimum age for required minimum distributions (RMDs) from 72 to 75, but notably, it wouldn't
be effective until the year 2031.
401(k) PRACTICE MANAGEMENT: One Generation Doesn't Think Much of Financial Advisors
Generation X hasn't lost its trademark cynicism, according to a State Street Global Advisors' survey,
with only 42% agreeing it is better to have the guidance of an advisor than doing it themselves. It's compared
to 63% of Millennials.
However, the survey also found among those currently working with a financial advisor, " the vast
majority say their advisors' insight and guidance is valued even more today and has helped them remain
confident during this period of rising inflation and market volatility. "
Inflation-induced stress and anxiety influence investor behavior when it comes to short-term budgeting
and committing to long-term financial goals. " The top two questions advisors are hearing from their
clients today are, 'Is now a good time to invest?' and 'How can I protect my portfolio against inflation,' "
said State Street's Allison Bonds.
The survey revealed that about three-quarters of those working with a financial advisor had discussed
inflation with their advisor, including how inflation will impact their investment goals in both the short
and long term.
401(k) INVESTMENTS: Retirement 'Super Savers' Still Prioritizing Lofty Savings Goals
Retirement " Super Savers " dug in and saved aggressively in 2021, and are maintaining progress
towards their retirement savings in 2022 according to a survey released recently from Principal Financial
Group. The report examines the habits of those who defer 90% or more of the IRS maximum to their
retirement accounts.
The annual Super Savers study found more than half (59%) of survey respondents said they plan to save
more than $20,000 towards retirement in 2022, which is up from 51% in 2021. That's largely attributed to
the majority of Super Savers (82%) feeling confident they are in good shape to endure a recession and the
sacrifices they are willing to make to their daily expenses to maximize their retirement contributions.
" From continuing to save through an inflationary period to establishing long-term financial goals,
Super Savers embody some of the best practices for retirement saving that gives them the mental and
emotional strength to stick with their plans even during times of market uncertainty, " said Sri Reddy,
senior vice president, Retirement & Income Solutions at Principal. " Their savings habits go to show you
can tuck away for the long-term while living in the moment today. "
2
POD k AST
A 401K Properties, LLC Publication
Subscriber Customer Service: (844) 807-3918
subscribe@401kspecialist.com
1745 Shea Center Drive, 4th Floor,
Highlands Ranch, CO 80129
(303) 502-2515
401kSpecialistMag.com
customerservice@401kspecialist.com
Amy Hamm - COO
ahamm@401kspecialist.com
303-502-2520
John Sullivan - Editor-in-Chief
jsullivan@401kspecialist.com
303-502-2521
Brian Anderson - Managing Editor
banderson@401kspecialist.com
303-502-2507
Tashawna Rodwell - Director of Media Sales
trodwell@401kspecialist.com
303-502-2517
Lynn Brackpool Giles - Contributing Editor
lgiles@401kspecialist.com
MARKETING/DESIGN/PRODUCTION:
Brian Gilbert - Creative Director
Ashley Gonzalez - Director of Digital Marketing
CONTRIBUTING WRITERS
Tom Hawkins, Rebecca Hourihan,
Troy Jensen, Gordon Tewell
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
SUBSCRIBER RESOURCES
To update your delivery address, purchase
additional copies of this issue or for other
customer service questions, please email
customerservice@401kspecialistmag.com
Subscribe or renew online at
401kSpecialistMag.com/subscribe
ISSUE 3 2022 | 401kSpecialist.com
http://www.401kSpecialistMag.com http://www.401kSpecialistMag.com/subscribe http://www.401kSpecialist.com
401(k) Specialist Issue 3 - 2022

Table of Contents for the Digital Edition of 401(k) Specialist Issue 3 - 2022
