What else to expect beyond its rule changing the definition of fiduciary.

The Cooperative and Small Employer Charity Pension Flexibility Act would make permanent temporary legislation exempting these groups from the Pension Protection Act of 2006.

The bill is finding support from Democrats, however the financial services industry is staunchly opposed to the notion of a state-sponsored retirement plan.

While it will take time for government regulations to come from the IRS and the DOL, some changes are already very clear.

The proposed legislation is receiving support from the insurance industry, but consumer advocates and union reps are already voicing concern.

Although the report was optimistic on the whole, of the almost 100 institutional money managers queried, 62 percent said they expect rates to rise in the next three months.

Designed for its institutional 401(k) offerings, SunTrusts tool relies on real-time data and provides a quick calculation for potential retirement income.

With the average age of investment advisors hovering in the 50s, 25 percent are eyeing retirement themselves within the next decade.