John Iekel
By John Iekel 7/19/2022
Hawaii has joined the states that provide retirement plan coverage for private-sector employees whose employers do not offer one—and with a twist. Gov. David Ige (D) signed legislation creating the program into law on July 12. It went into effect immediately.
The program has two unique features....
READ MORE
By John Iekel 7/14/2022
Editor’s Note: This is part of an ongoing series that provides a look at content available through the NTSA Advisor’s weekly MarketBeat feature, an archive of which is contained in the Industry Intel section of the NTSA website here. This installment concerns savings and income.
Retirement Income...
READ MORE
By John Iekel 7/5/2022
State-run retirement plans that provide coverage for private-sector employees whose employers do not are intended to help those employees to set the foundation for a more financially secure retirement. But they also can help with bigger-picture concerns, suggests an industry expert.
Important in...
READ MORE
By John Iekel 6/30/2022
The number of retirees returning to the workforce is increasing, says a recent report that cites inflation and labor market changes as reasons why higher numbers of adults age 65 and older are returning to the workforce.
Many people retired in 2020, as they commonly do during difficult times, ...
READ MORE
By John Iekel 6/30/2022
Teachers like to work with financial professionals more than any other source regarding managing their finances and preparing for retirement, says a recent study—and that is especially pronounced among younger educators.
A majority of educators—52%—would rather have a financial professional ...
READ MORE
By John Iekel 6/28/2022
All it will take for Delaware to become the next state to offer a retirement plan that would provide coverage for employees whose employers do not offer one is the stroke of one pen. The bill, approved by both chambers of the state legislature, now awaits the assent of Gov. John Carney (D).
The...
READ MORE
By John Iekel 6/22/2022
A bill before the New Jersey legislature will require that there be multiple vendors for purposes of providing 403(b) plans to certain school districts.
The legislation provides that a board of education of a school district with an enrollment of at least 1,000 students that offers a 403(b) plan...
READ MORE
By John Iekel 6/22/2022
An increasing number of states are crafting and implementing retirement programs for employees whose employers do not offer one. All of them are new, but an industry insider discusses some of the states that have forged ahead on something newer than new.
Chad Parks, Founder and CEO of Ubiquity...
READ MORE
By John Iekel 6/22/2022
As the second half of 2022 begins, there are some deadlines relevant to retirement plans that now come into sharper focus. Some are becoming immediate; with others, there still is a bit of time to prepare.
July 31, 2022
Pre-Approved Plans (Cycle 3 Restatement). All plans using IRS pre-approved...
READ MORE
By John Iekel 6/21/2022
The California Senate has approved two bills relevant to retirement plan coverage in California and has advanced them to the state Assembly.
Expanding CalSavers
SB 1126, a measure that would expand the definition of “eligible employer” for purposes of the CalSavers Retirement Savings Trust Act—...
READ MORE
By John Iekel 6/13/2022
A new law will adjust employer-paid contributions in the Florida Retirement System and the participation period for certain employees.
State Representative Jay Trumbull (R-Panama City) introduced the bill; the state House and Senate on March 14, 2022 each unanimously passed the conference report...
READ MORE
By John Iekel 6/13/2022
Legislation now before the New York State Assembly and Senate would allow automatic enrollment of eligible employees of the City of New York into the city Board of Education’s retirement system.
Under the bill, beginning July 1, 2023, any eligible new NYC employee eligible to join the New York...
READ MORE
By John Iekel 6/13/2022
We’ll pass on that, the U.S. Supreme Court said when asked to review a ruling on a challenge to the legality of CalSavers, California’s state-run retirement plan for private-sector employees whose employers do not offer one. Congress should take the hint, suggests a recent analysis, and let the...
READ MORE
By John Iekel 6/8/2022
Social Security can continue to protect future generations if action is taken now, says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds in its annual report to Congress.
The Board—comprised the Secretary of the Treasury, the Secretary of...
READ MORE
By John Iekel 6/6/2022
Retirement plans—including 457(b) plans—have garnered heightened scrutiny. In MarketBeat, John Iekel writes about a recent blog entry that notes that IRS and DOL have increased the number of plans they audit, and highlights the importance of fulfilling fiduciary duties and not committing a...
READ MORE
By John Iekel 6/3/2022
The IRS on June 3 announced that it is piloting a pre-examination retirement plan compliance program beginning in June 2022.
This program will notify a plan sponsor by letter that their retirement plan was selected for an upcoming examination. The letter will give a plan sponsor a 90-day window...
READ MORE
By John Iekel 6/2/2022
A program administrator and investment manager have been named for RetirePath Virginia, the state-run program that will provide retirement plan coverage to Virginians whose private-sector employers do not, as it approaches the July 1, 2023 launch date.
Then-Gov. Ralph Northam (D) on May 7, 2021...
READ MORE
By John Iekel 5/31/2022
The First State is poised to join its sister states that provide a state-run retirement plan.
By a 35-1 margin, the state House of Representatives passed legislation May 17, 2022 to create the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) program, which is intended to...
READ MORE
By John Iekel 5/31/2022
Minnesota Gov. Tim Walz (D) on May 22 signed into law a measure that enhances the earnings of retired teachers who return to work. The state House of Representatives passed the measure on May 9, and the Senate followed suit eight days later.
The measure, SF 3540, includes a provision that...
READ MORE
By John Iekel 5/27/2022
The American Retirement Association (ARA) in a May 25 comment letter has made recommendations to the IRS concerning the proposed required minimum distributions (RMD) regulations issued in February 2022, including that the IRS delay the effective date of the regulations when they are in final form...
READ MORE
Pages
Advertisement