John Iekel
By John Iekel 7/14/2023
Delaware is pursuing an interstate collaboration for the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) Program. It launched the program in 2022.
According to the office of State Treasurer Colleen Davis, the EARNS Program board on July 13 voted unanimously to authorize her...
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By John Iekel 7/14/2023
The IRS on July 14 made multiple announcements concerning required minimum distributions (RMDs), including relief concerning RMDs and rollovers in accordance with Section 107 of SECURE 2.0. The guidance is contained in Notice 2023-54.
Transition Relief
The IRS says that after SECURE 2.0 was...
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By John Iekel 7/12/2023
State programs to provide coverage to private-sector employees whose employers do not provide a retirement plan are in motion, and there is a little more traffic on the road.
RetirePath Virginia Hits the Road
RetirePath Virginia, the state-run program that will provide retirement plan coverage to...
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By John Iekel 7/6/2023
One plus one is two, right? Not so, says Phil Kim, Founding Member and Managing Director of Signature Wealth Concepts, making the case for collaboration in the 403(b) marketplace.
“One plus one is greater than two,” said Kim in the June 21 NTSA Webcast, “The Case for Collaboration in the 403b...
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By John Iekel 6/27/2023
The nuts and bolts of running a state program to provide retirement plan coverage to private-sector employees whose employers do not is occupying state governments' time lately.
Fine-Tuning the Retirement Savings Program Down East
The government of Maine has enacted a measure that adjusts its...
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By John Iekel 6/20/2023
Nevada private-sector employees whose employers do not provide retirement plans have struck gold: the Silver State has joined those that are providing such programs. The comparable plan provided by neighboring Oregon, the first state to put one in place, now counts more than $200 million in its...
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By John Iekel 6/13/2023
A big piece of fixing Alaska’s problem with teacher staffing is addressing retirement plan issues, says none other than the Majority Leader of the State Senate.
Cathy Giessel (R-Anchorage), the Majority Leader of the Alaska Senate, made her comments as a panelist in the June 12 National Institute...
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By John Iekel 6/8/2023
The recent 2023 NTSA Summit provided a unique opportunity to connect and also to gain from the insights of industry experts. Following is a quick rundown of our coverage of the event.
NTSA Leadership
Stubbs Takes the Helm as 2023 NTSA President https://www.ntsa-net.org/news-resources/stubbs-...
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By John Iekel 6/5/2023
Vermont is now among the states providing a state-run plan for private-sector employees whose employers are not. Gov. Phil Scott (R) has signed into law the measure that called for the creation of their iteration.
On June 1, Scott signed S. 135, the bill that creates VTSaves. Action on the...
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By John Iekel 6/1/2023
Nevada is one step closer to enacting a state-run program to provide coverage to certain private-sector employees. In the meantime, Nebraska’s legislature may seek an examination of the retirement system that serves public employees, including public school teachers, and coverage under the New York...
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By John Iekel 5/26/2023
The IRS has issued guidance on the expansion of the Employee Plans Compliance Resolution System (EPCRS) under Section 305 of SECURE 2.0.
The guidance is contained in Notice 2023-43, which provides interim guidance in advance of an update to Revenue Procedure (Rev. Proc.) 2021-30.
The issues the...
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By John Iekel 5/25/2023
Beginning June 1, 2023, the IRS is expanding its determination letter program to include certain 403(b) plans. The IRS issued a reminder May 24.
The IRS had announced on Nov. 7, 2022 in Revenue Procedure (Rev. Proc.) 2022-40 that it would allow 403(b) retirement plans used by certain public...
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By John Iekel 5/24/2023
Minnesota is now offering a state-run plan for private-sector employees whose employers do not, and Pennsyvlania is one step closer to establishing one. Meanwhile, the ink is barely dry on the measures that created such plans in Connecticut and Maine, but already bills are advancing in the...
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By John Iekel 5/18/2023
Concern about Social Security is as perennial as it is rife. A panel of experts in a recent seminar offered some suggestions for addressing the challenges facing the system.
Panelists in the recent National Institute on Retirement Security (NIRS) webinar “Social Security: What’s Next and New...
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By John Iekel 5/17/2023
CalSavers' growth in assets continues apace, and they now amount to more than half a billion dollars; registrations are growing too, but not in as dramatic a fashion.
CalSavers Assets Hit Half Billion
April, it has been said, is the cruelest month. No offense to Chaucer, but CalSavers — the...
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By John Iekel 5/12/2023
The Land of 10,000 Lakes is poised to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not.
The state Senate approved the bill that would do so on May 11, and the House had done so 10 days earlier; the...
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By John Iekel 5/11/2023
So many factors are in play in running a practice and serving clients. And a session at the recent 2023 NTSA Summit focused on one fundamental to doing both effectively: mental health.
In “‘Holding’ Pattern: Is Mental Health Holding You Back?” Eric Jenkins, LCSW/Therapist at Willow Pines...
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By John Iekel 5/9/2023
The IRS has issued an update to the 2022-2023 priority guidance plan.
The IRS had released the initial plan on Nov. 4, 2022, setting forth guidance priorities for the 12-month period from July 1, 2022, through June 30, 2023 (the plan year). It released an update to the plan in February.
The To...
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By John Iekel 5/5/2023
Vermont is close to establishing a state-run retirement plan to provide coverage for employees whose private-sector employers do not, and Pennsylvania is on the road to that.
Green Mountain State Poised to Join State Plan Club
The Vermont House of Representatives has passed legislation that...
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By John Iekel 5/4/2023
Editor's Note: This feature in the NTSA Advisor provides a look at what’s going on in the states and the most recent developments in their activity to provide and enhance retirement plan coverage.
What has it meant for teachers in Alaska that their retirement plan was part of the widespread...
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