Episode Description
Over the years, participant 401(k) plan loans have gotten a bad rap both with plan sponsors and within the industry. In this episode my guest, Todd Cowman, a Senior Consultant at the Principal Financial Group explores whether that bad reputation is deserved. Todd does a great job of explaining some of the fundamentals of 401(k) plan loans, which are often times misunderstood, and brings a frank overview of the pros and cons of 401(k) plan loans for participants and plan sponsors. Finally, he leaves plan sponsors with some thoughts on plan design and loan policy features to help limit the potential abuses of 401(k) loans.
Guest Bio
Todd Cowman is a Senior Consultant for the Principal Financial Group . Todd has been with the Principal Financial Group since 1993. He works primarily with Defined Contribution and Defined Benefit clients, both qualified and nonqualified, with up to $1B in retirement plan assets, designing an overall retirement program that is both cost effective to employers and meaningful to employees, while continuing to meet strict regulatory requirements.
Todd has focused much of his efforts around mergers and acquisitions, helping plan sponsors understand the unique plan design challenges that arise and navigating available options. He has assisted in developing multiple written documents related to this topic which are frequently used by plan sponsors and other financial professionals. Todd also assists plan sponsors in resolving plan operational/qualification failures and negotiating corrections with the Internal Revenue Service.
Todd is often asked to speak on various plan design topics at client specific and industry conferences as well as supporting our sales efforts in the field by participating in SWAT visits both in and outside our Corporate Center in Des Moines, IA. Todd earned his Qualified 401(k) Administrator (QKA) designation from ASPPA in 2008.
401(k) Fridays Podcast Overview
Offers companies of all sizes free strategic, educational and actionable content to improve their retirement plans. My name is Rick Unser and I am your host. All episodes leverage my nearly two decades of experience working with employers to bring you candid interviews with industry experts to enhance Fiduciary Protection, streamline Plan Operations and improve employee Retirement Readiness.
For more information please visit www.401kfridays.com
Episode Summary
You might have heard that Men are from Mars and Women are from Venus, you also might understand a thing or two about Millenials, Generation Xers and Baby Boomers. However, what you might not realize is that having a better grasp on how different generations and genders approach preparing for retirement could actually help you improve your retirement plan health. My guest, Margaret Rux, is a principal and head of Strategic Retirement Consulting at Vanguard. Her team of attorneys, actuaries, plan analysts, and senior benefits professionals offer consulting, analysis, and expertise on a variety of fiduciary and regulatory issues affecting plan design and compliance. Margaret shares great insights from their research on the differences between the generations and genders in retirement plans. For plan sponsors, she shares strong evidence that your go forward plan design can be the great equalizer between historical differences between the groups.
Guest Bio
Margaret Rux is a principal and head of Vanguard Strategic Retirement Consulting. Her team of attorneys, actuaries, plan analysts, and senior benefits professionals offers consulting, analysis, and expertise on a variety of fiduciary and regulatory issues affecting plan design and compliance. Ms. Rux joined Vanguard in 1987. She has spent most of her career in Institutional Client Services and has also held leadership positions in Vanguard's retail and international businesses. Ms. Rux earned a B.S. from Ithaca College and an M.B.A. from Saint Joseph’s University. She is also a certified ERISA paralegal.
401(k) Fridays Podcast Overview
Offers companies of all sizes free strategic, educational and actionable content to improve their retirement plans. My name is Rick Unser and I am your host. All episodes leverage my nearly two decades of experience working with employers to bring you candid interviews with industry experts to enhance Fiduciary Protection, streamline Plan Operations and improve employee Retirement Readiness.
For more information please visit www.401kfridays.com
Episode Summary
If you are at all curious about how rising interest rates here in the United States could impact your 401(k) investments, employees and the economy, my guest Chris Dillon a fixed income portfolio specialist with T. Rowe Price covers these topics and more! During our conversation Chris does a great job of explaining in an understandable way some fundamental concepts such as what a fixed income yield curve is and how interest rate changes impact bond prices. He also helps make sense of the Federal Reserve’s interest rate policy, how negative rates and deflation in some countries could impact the US markets and why inflation is a good thing. Finally, he provides great insights on strategies employers can use in your 401(k) to position your fixed income offerings and to provide options that could do well in a rising interest rate environment. This episode is packed, I hope you enjoy!
Guest Bio
Chris Dillon is a portfolio specialist in the Fixed Income Division at T. Rowe Price. He supports the Municipal Bond, International Bond, and Global Unconstrained Bond Strategies, working closely with clients, prospects, and consultants. Mr. Dillon is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Mr. Dillon has 19 years of investment experience, 10 of which have been with T. Rowe Price. Prior to joining the firm in 2006, he was an investment advisory research consultant for PNC Advisors. Before PNC Advisors, Mr. Dillon directed fixed income management research for Smith Barney Consulting Group.
Mr. Dillon earned a B.A., cum laude, in history/economics from the University of Delaware and an M.B.A. in business administration from Wilmington University. He also has earned the Chartered Financial Analyst designation.
401(k) Fridays Podcast Overview
Offers companies of all sizes free strategic, educational and actionable content to improve their retirement plans. My name is Rick Unser and I am your host. All episodes leverage my nearly two decades of experience working with employers to bring you candid interviews with industry experts to enhance Fiduciary Protection, streamline Plan Operations and improve employee Retirement Readiness.
For more information please visit www.401kfridays.com
Episode Summary
Well, I have to admit, this episode didn’t unfold quite the way I thought it was going to, however, thanks to my guest, Peter Dunn, aka Pete the Planner, it turned out to be the most inspirational and motivational episode of the 401(k) Fridays podcast yet. Pete the Planner® has a unique set of gifts as both an award-winning comedian and financial mind. He's a USA TODAY columnist and the author of ten books, and the host of the popular radio show The Pete the Planner Show. Pete has appeared regularly on CNN Headline News, Fox News, Fox Business as well as numerous nationally syndicated radio programs. During our conversation Pete draws on his years of experience working with individuals on their financial needs to cover a range of topics all relating to challenges participants face in saving for retirement. Most importantly, don’t miss the last several minutes of the podcast where Pete shares some very passionate and inspiring messages for employers about the important role you play in creating successful retirement outcomes for your employees.
Guest Bio
Peter Dunn a.k.a. Pete the Planner® is an award-winning comedian and an award-winning financial mind. He's a USA TODAY columnist and the author of ten books, six of which were featured in a nationwide launch at Barnes & Nobles stores in January of 2015. He is the host of the popular radio show The Pete the Planner Show on 93 WIBC FM and is a columnist for the Indy Star. Pete has appeared regularly on CNN Headline News, Fox News, Fox Business as well as numerous nationally syndicated radio programs. In 2012, Cision named Pete the fourth most influential financial broadcaster in the nation.
401(k) Fridays Podcast Overview
Offers companies of all sizes free strategic, educational and actionable content to improve their retirement plans. My name is Rick Unser and I am your host. All episodes leverage my nearly two decades of experience working with employers to bring you candid interviews with industry experts to enhance Fiduciary Protection, streamline Plan Operations and improve employee Retirement Readiness.
For more information please visit www.401kfridays.com
Episode Summary
Today's episode is absolutely packed with information for all plan sponsors regardless of the current “cash” or capital preservation strategy in your 401(k) plan. My guest, Brett Gorman, a SVP at PIMCO Investments and head of their Stable Value business shares valuable information about Money Market Reform and its impact on both plan sponsors and participants. He also lays out a great roadmap to help plan sponsors reevaluate their capital preservation strategy to find the right mix of principal protection, liquidity and real return. Be sure to listen for more details on what real return is and why it should be an important factor in your go forward capital preservation strategy.
Guest Bio
Mr. Gorman, a CFA Charterholder, is a senior vice president, an account manager in the defined contribution (DC) practice, and head of PIMCO’s stable value business. The PIMCO DC Practice, with over $100 billion of DC-related assets under management, is dedicated to promoting effective DC plan design and innovative retirement solutions and offers investment management for fixed-income, stable value and other capital preservation solutions, inflation protection, equities and asset allocation strategies such as target-date solutions. PIMCO has been managing stable value since 1992 and, with almost $30 billion in stable value assets under administration, provides a variety of stable value-related services to the market.
Mr. Gorman currently serves on the board of directors of Stable Value Investment Association (SVIA), an industry-peer elected position. The SVIA is dedicated to providing leadership and representation on issues related to stable value before the media, educators, legislators, regulators and opinion leaders, as well as serving as a forum for the exchange of ideas and discussion of issues important to the Stable Value industry. He has spoken at a variety of industry meetings and conferences, including at numerous SVIA Forums, the Merrill Lynch Wealth Management Global Wealth & Retirement Solutions Conference, DCIIA, the PIMCO DC Advisory Council, and the SPARK Institute.
Prior to joining PIMCO, Mr. Gorman was a director and senior portfolio manager with the Deutsche Asset Management stable value team and a fixed income portfolio manager for institutional and governmental clients at Merrill Lynch Investment Managers. He has 23 years of investment experience and holds an MBA from Rutgers University and a bachelor’s degree from Syracuse University.
401(k) Fridays Podcast Overview
Offers companies of all sizes free strategic, educational and actionable content to improve their retirement plans. My name is Rick Unser and I am your host. All episodes leverage my nearly two decades of experience working with employers to bring you candid interviews with industry experts to enhance Fiduciary Protection, streamline Plan Operations and improve employee Retirement Readiness.
For more information please visit www.401kfridays.com