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John Iekel

Editor’s Note: This is part II of a two-part series. Part I is available here.  Generation Z is looking ahead and shows a healthy regard and respect for their financial future, long-term. Studies show that they have a strong interest in financial literacy, saving and employer-provided retirement... READ MORE
If bills before both chambers of the Wisconsin legislature are enacted, America’s Dairyland will have a retirement plan marketplace to connect individuals and small employers with retirement plans offered by private financial services firms.  Sen. Melissa Agard (D-Madison) introduced SB 1035 in... READ MORE
Automatic enrollment of eligible employees in the Hawaii Retirement Savings Program is closer to being put in place.  Sen. Sharon Moriwaki (D-Waikiki) introduced SB2553 on Jan. 19, 2024. Under the bill, employees would no longer be required to opt in to participate in the Hawaii Retirement Savings... READ MORE
It is now possible to offer plan participants in 401(k), 403(b), and 457(b) plans the option to treat employer contributions as Roth contributions, under the SECURE 2.0 Act.  More precisely, it is Section 604 of the SECURE 2.0 Act that allows plan participants to elect to have any fully vested... READ MORE
The Illinois Senate may vote soon on a bill that would require school districts in the Land of Lincoln that offer their employees a 403(b) plan to enter into a contract with only one vendor in the plan. On Feb. 14, 2024, Sen. Karina Villa (D-West Chicago) introduced language for SB2568 stating... READ MORE
Two measures before the Illinois House of Representatives would make adjustments to the pension system that serves public school teachers in most of Illinois.  The bills would amend the Downstate Teacher Article of the Illinois Pension Code. That code concerns pensions for teachers in “downstate”... READ MORE
Add the Evergreen State to those that provide retirement plan coverage for private-sector employees whose employers do not. Well, soon.  "In the beginning of March, Washington joined the 15 other states that had previously adopted state auto-IRA language, to provide the best opportunity for small... READ MORE
Editor’s Note: This is part I of a two-part series. It’s not unusual for older generations to look askance at their younger counterparts and dismiss them with a harumph at the thought that one day they will come to the fore. But some recent data suggests that in the case of the youngest... READ MORE
Legislation has been entered in the Michigan House of Representatives that would create a retirement program for private-sector employees whose employers do not in the Wolverine State. In the meantime, a bill is before the Minnesota House that would expand coverage under the program they are... READ MORE
Georgia may join sister states in establishing a state-run retirement plan to provide coverage for private-sector employees whose employers do not, if a measure now before the Senate is enacted.  Sen. Chuck Hufstetler (R-52) introduced SB 477 on Feb. 9, 2024. It calls for the creation of the Peach... READ MORE
The New Mexico Senate is considering a request for a study regarding equalization of teachers’ pensions with those of public employees.  Sen. Mimi Stewart (D-Bernalillo), President Pro Tempore of the New Mexico Senate, on Jan. 18 introduced SM 4, a bill requesting that the Legislative Finance... READ MORE
State-run programs spanning the breadth of the country are expanding the scope of the private-sector employees and workers they cover.   Freelancers Covered by New York Secure Choice The scope of New York Secure Choice, the program through which the Empire State provides coverage to private-... READ MORE
Many teachers in Alaska may have the ability to choose between defined benefit or defined contribution coverage.  A bill is before the Alaska Senate that would expand the retirement coverage options offered under the Public Employees' Retirement System of Alaska and the teachers’ retirement system... READ MORE
Teachers in two states may have new options for funding retirement, if measures before their legislatures are enacted.  Working After Retirement A bill before the Missouri Senate would adjust provisions of the law concerning time and salary limitations on working after retirement for members of... READ MORE
A bill before the Mississippi House of Representatives would establish a state-run retirement plan to provide coverage for private-sector employees whose employers do not offer one.  Rep. Orlando Paden (D-Bolivar) on Jan. 24, 2024 introduced House Bill 599, the Mississippi Secure Choice Savings... READ MORE
Employees would no longer be required to opt in to participate in the Hawaii Retirement Savings Program but rather would be automatically enrolled under legislation now before the Hawaii House and Senate.  Sen. Sharon Moriwaki (D-Waikiki) introduced SB2553 on Jan. 19, 2024; Rep. Andrew Garrett (D-... READ MORE
A resolution before the Alaska House calls for the state to join others in calling for the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).  Rep. Alyse Galvin (I-Anchorage) introduced House Joint Resolution 18 on Jan. 22, 2024.  Alaska has the highest... READ MORE
The IRS has made the 2023 Cumulative List of Changes in Plan Qualification Requirements for Defined Contribution Qualified Pre-Approved Plans available. The new list, contained in Notice 2024-3, provides updated listings of required modifications and information packages for DC plans.  The 2023... READ MORE
There have been significant changes to the IRS Pre-Approved Defined Contribution Plan Program, and two of the IRS officials involved in the thick of it recently provided a refresher on the program rules and recent developments.  Milo Atlas of the Retirement Plan Forms and Publications Office at... READ MORE
Washington—the state, not the city—is considering legislation that would establish a state-run retirement plan to cover those whose employers do not offer one. ​ If the legislation is enacted, the Evergreen State would join its Pacific Coast neighbors in providing such a plan. California was the... READ MORE

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