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John Iekel

The IRS has updated information relevant to reporting for 2022 and 2023.  403(b) Reporting   The IRS has updated Publication 939, General Rule for Pensions and Annuities for 2022 reporting. The publication also addresses the treatment of benefits under 403(b) plans and discusses in-plan Roth... READ MORE
Social Security continues to face “significant financing issues,” says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds in its annual report to Congress. It notes that it has arrived at that finding in prior years. The Board calls on... READ MORE
This new 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.    Nevada Could Join State Plan Club Private-sector employees in the Silver State whose employers do not... READ MORE
The Department of Labor (DOL) in its budget proposal for fiscal year 2024 seeks funding to fuel new initiatives to make sure lost benefits go to those to whom they belong.  The DOL seeks $5 million in FY 2024 to establish a program for ensuring that missing participants receive the benefits to... READ MORE
In what appears to address changes under the SECURE 2.0 Act, the IRS has issued updated information for reporting concerning IRAs, as well as a fresh reminder concerning required minimum distributions (RMDs).  IRA Reporting   The IRS has issued an updated version of Publication 590-B,... READ MORE
This new 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.  Expanded Coverage Options for Certain FL Teachers Proposed   Legislation is before the Florida Senate and... READ MORE
U.S. Supreme Court Justice Louis Brandeis, associate justice on the Court from 1916 to 1939, wrote in the 1932 ruling in New State Ice Co. v. Liebmann that "a single courageous State may, if its citizens choose, serve as a laboratory; and try novel social and economic experiments without risk to... READ MORE
April 1, 2023, is the last day, in most cases, for retirees who turned 72 during 2022 to begin taking distributions from IRAs, 401(k)s and similar workplace retirement plans. The IRS issued a reminder about the impending deadline on March 9.   RMDs, the IRS reminds, generally are made by the end... READ MORE
The American Retirement Association (ARA) has signed on to a joint letter supporting the IRS’ new permanent rules to allow remote notarization of spousal consent forms.  Background During the pandemic, the IRS received requests from stakeholders to permit remote witnessing of spousal consents by... READ MORE
The IRS has issued guidance to financial institutions for reporting required minimum distributions (RMDs) for 2023. The guidance, contained in Notice 2023-23, implements a change to the RMD rules made by the SECURE 2.0 Act, which delayed the required beginning date for RMDs. Under this change, IRA... READ MORE
A slalom course can be tricky. It takes some deft maneuvers to navigate one, but with practice and skill it can be done. A Feb. 28 session of the NTSA Summit offered some reminders regarding the importance of the twists and turns of moving 403(b) money.  The session was led by moderator Sue Diehl... READ MORE
Legislation is before the Illinois Senate that would expand coverage and options available to certain employees in the education sector.  SB 1647 On Feb. 8, Sen. Robert F. Martwick (D-Chicago) introduced SB 1647, a bill that would amend the Downstate Teacher Article of the Illinois Pension Code... READ MORE
Many recent events have changed the way we look at access to teachers in order to provide long-term retirement planning. A Feb. 27 panel discussion at the NTSA Summit looked at best practices as well as the likely trends for the future. Panelists included the following: Brad Hope, AIF®, PPC,... READ MORE
Five new members were added to the distinguished professionals who are honored to be among those recognized by receiving the NTSA Elite Advisor Award. They were named at the Feb. 27 luncheon held at the 2023 NTSA Summit in Tampa, FL.  Kelly Larkin, CFP®, whose practice is in Seattle, WA, serves... READ MORE
Eleanor “Ellie” Lowder, TPGC, was honored with the 2023 Bob D. Schiller Award. Lowder, a volunteer with the NTSA for decades, passed on in 2022.  Born in 1938 in Virden, IL, Ellie was a loving mother and dedicated wife, and in a time in which it was more traditional for women to not enter the... READ MORE
Susan Diehl, QPA, CPC, ERPA, TGPC, BCFTM, President of PenServ Plan Services, Inc., is the 2023 winner of the Richard Ford Volunteer Service Award. The award was bestowed at the Feb. 27 luncheon at the NTSA Summit in Tampa, FL.  Diehl, the 2012 Bob D. Schiller Award winner, is a long-time... READ MORE
Are retirement plans SECURE? American Retirement Association CEO Brian Graff, NTSA Executive Director Nathan Glassey, and ARA Director of Federal and State Legislative Affairs Andrew Remo at the Feb. 26 opening session of the 2023 NTSA Summit in Tampa, FL discussed Washington’s take on that. And,... READ MORE
“A year of setting the foundation for growth” was how 2022 NTSA President Christopher Zingaro summed up the year of his tenure. He made his remarks at the opening of the 2023 NTSA Summit in Tampa, FL.  Reviewing the year, Zingaro noted that 2022 brought not only inflation and the easing of COVID... READ MORE
Lisa Stubbs, CRES, of Security Benefit, has taken the helm as 2023 NTSA President. In her remarks at the opening session of the 2023 NTSA Summit, she set growth as a priority. “We’re going to do that in a big way,” she said.  “My goal this year is to get more people engaged,” said Stubbs,... READ MORE
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).    To Be Done   The IRS says in the updated list... READ MORE

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