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401(k) Fridays Podcast

The 401(k) Fridays Podcast features a weekly conversation with an expert guest to help employers and their service partners keep up with workplace retirement plan topics and trends. Listen today, improve your retirement plan tomorrow!
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Now displaying: October, 2018
Oct 26, 2018

Maybe you’re are like me, you have heard the term blockchain before, but if someone asked you to define it, you would have a tough time.  Hopefully after you listen to my conversation with Micheal Barry, an author and President of O3 Plan Advisory Services, you will have a better idea of what blockchain is, and how it could impact 401(k) and other workplace retirement plans in the future. During our conversation we hit on distributed ledger technology and how it relates to blockchain, how providers will use blockchain in the future & the issues that could come up. We also hit on bitcoin and how it does or doesn’t relate to blockchain as they seem to be used in the same sentence often times and share some thoughts on the balance between privacy and universal data. We touch on a ton of new topics here and hopefully do it in a way that won’t leave you with a headache.  

Guest Bio

Michael P. Barry is a senior consultant at October Three and President of O3 Plan Advisory Services LLC, which provides retirement plan regulatory analysis targeted at plan sponsors and those who provide services to them. Plan Advisory Services publishes analyses of regulatory developments affecting private employer defined benefit and defined contribution plans, focusing on the challenges, opportunities, and consequences for sponsors that regulatory changes present. Mike has had over 40 years’ experience in the benefits field, in law and consulting firms, concentrating on the regulation of private employer DB and DC retirement plans.

Beginning law practice in 1976, the year that the Employee Retirement Income Security Act (ERISA) became effective, Mike has worked with and studied the evolving complexities of regulation in this heavily regulated field. Before founding Plan Advisory Services in 1998, Mike was Managing Director at Bankers Trust and, before that, a New York benefits partner at LeBeouf, Lamb, Greene & McRae. He writes a regular column for PLANSPONSOR magazine (“Barry’s Pickings”). Mike blogs at moneyvstime.com, and you can follow him on Twitter @PlanAdvisorySvc.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over one hundred prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

Oct 19, 2018

From time to time we will take a side trip off the 401(k) path and explore other related topics.  Today is a great example of this where we take a minute to explore the 401(k) cousins if you will, in 403(b) and 457 plans.  My guest, Sandy Blair is a Director and CALSTRS or the California Teachers Retirement System and a board member at the NAGDCA, or the National Association of Governmental Defined Contribution Administrators.  As you will hear, while there are some similarities among governmental plans and their cousins in the corporate world, there are also some important and material differences.  We also hit on some important topics and trends we have talked about in many prior episodes such as fees, the use of auto features, fiduciary responsibility and RFPs that have some different nuances to them in the governmental plan world. Finally, Sandy also highlights the resources NAGDCA has to offer anyone who finds themselves in the world of governmental plans, specifically some highlights of next week’s National Retirement Security Week.  

Guest Bio

Ms. Blair began her CalSTRS management career in 2009 in the client outreach and guidance business area, where she was instrumental in establishing the model of CalSTRS first Member Service Center in West Sacramento. She became a field manager, overseeing centers in West Sacramento, Glendale and Santa Clara. Under Ms. Blair’s leadership, the CalSTRS defined contribution plan, Pension2®, experienced tremendous growth. It currently administers nearly $600 million in assets on behalf of more than 10,000 plan participants.

Prior to joining CalSTRS, Ms. Blair worked in the private sector in consumer banking, finance and tax preparation. She holds a Bachelor of Science in business administration and finance from California State University, Sacramento.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over one hundred prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

Oct 5, 2018

Do the largest 0.1% of workplace retirement plans in the country or the “Mega Plans” do things the same as the other 99.9% of plans? As you will hear from my guest, Charlie Nelson, CEO of Retirement & Employee Benefits of VOYA Financial, sometimes they do, sometimes they don’t. I had a few technical issues and distractions on my end to deal with right before we got started but once we got going this is a fast paced conversation where we hit on some topics things you might expect us to talk about when it comes to what mega retirement plans trends, but we also delve into on a few important topics you might not be thinking about like helping employees figure out what the next best financial decision for them is, whether the prevalence of 401(k) lawsuits in large plans influence their decision making and how some trends in the large market are actually influenced by the small market.  

Guest Bio

Charles Nelson is chief executive officer of Retirement and Employee Benefits for Voya Financial, Inc. (NYSE: VOYA), which helps Americans plan, invest and protect their savings — to get ready to retire better. In his role, Nelson oversees Tax-Exempt and Corporate Markets and Retail Wealth Management, which comprise the company’s workplace and individual retirement businesses, including 401(k), 403(b) and 457 plans, as well as its Employee Benefits business.

Prior to joining the company, Nelson served as president of Retirement Services for Great-West Financial through September 2014 and most recently led the legacy Great-West retirement business of Empower Retirement, a business unit of Great-West Life & Annuity Insurance Company.

Nelson has more than 30 years of leadership experience in the retirement and employee benefits industry. He was named the second most influential player in the 401(k) market, according to the 401(k) Wire’s 2012 Most Influential ranking list. During his career, Nelson has managed all aspects of defined contribution businesses. He has overseen government, healthcare, nonprofit, 401(k) and FASCore institutional lines of business, while also managing recordkeeping, administration, operations, sales, products, financial results and broker-dealer services. Nelson began his career at Great-West in the employee benefits business marketing retirement plans, healthcare, stop loss and various benefit offerings.

Nelson is a graduate of Whitman College with a degree in chemistry and economics, and he was a member of the Whitman College Board of Overseers from 2008 to 2017. Nelson served as the past president of the board of directors for The SPARK Institute, a trade institute that represents the entire spectrum of defined contribution service providers. He has also been a member of the National Association of Government Defined Contribution Administrators (NAGDCA) since 1985. As a member, Nelson has contributed articles for publication, participated on a number of committees, and spoken at numerous regional and national conferences to support and assist the organization’s efforts to further the industry.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over one hundred prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!

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