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Drew Carrington, head of Institutional Defined Contribution at Franklin Templeton Investments along with Michael Doshier, head of retirement marketing, examine the status of The Retirement Enhancement and
Savings Act (RESA) and what it might
mean for both plan sponsors and participants, and recap the latest court rulings impacting the Department of
Labor's Fiduciary Rule.
He
labors to lay aside
means of security, whether in terms of working competence or in terms of cash
savings.
A proposed voluntary early retirement plan, if accepted by enough workers, would account for only $ 15 million of that,
meaning Mangano would have to come up with additional
savings of more than $ 100 million in
labor costs annually to meet his target.