John Iekel

The Department of Labor’s Employee Benefits Security Administration (EBSA) on Nov. 18 proposed updates to the voluntary fiduciary correction program (VFCP), including a provision long-promoted by the American Retirement Association that should help plan sponsors and providers — more specifically,... READ MORE

The Voluntary Correction Program (VCP) is part of the IRS Employee Plans Compliance Resolution System. An IRS official who is part of that system offered some insights in an Oct. 24 session at the 2022 ASPPA Annual conference into how it all works.  Stephanie Bennett, a Voluntary Compliance... READ MORE

The IRS has, effective immediately, expanded the individually designed retirement plan determination letter program to include certain 403(b) plans.  The IRS announced on Nov. 7 in Revenue Procedure (Rev. Proc.) 2022-40 that it will now allow 403(b) retirement plans used by certain public schools... READ MORE

Cybersecurity may feel like an unending purgatory of whack-a-mole. But an expert panel has offered some tips that can help lead one closer to the promised land of greater security.  “Cyber Cyphers: Tips, Tricks and Practice Shifts that Can Keep Your (Plan) Data Safe,” a session at an Oct. 25... READ MORE

In working on behalf of retirement plans, retirement plan participants, and those who support them, one of the constants is the importance of a bipartisan approach, American Retirement Association CEO and ASPPA Executive Director Brian Graff stressed in his opening remarks at the 2022 ASPPA Annual... READ MORE

Editor’s Note: this is the second in a two-part series on what can be done to help those who about to retire or already have to better prepare to finance their retirements. Part one is here.  “There are no quick, simple solutions” in encouraging pre-retirees and retirees make decisions that will... READ MORE

Editor’s Note: this is part one of a two-part series on what can be done to help those who are about to retire or have to better prepare to finance their retirements.  There is much to be done to improve employees’ retirement readiness, and that spells opportunity — for employees, but also for... READ MORE

Are 403(b)s still relevant? An expert panel at an Oct. 3 session of the ERISA 403(b) Advisor Conference held in Washington, DC discussed how they figure in the retirement universe and their future prospects. Panelists included Sue Diehl, President of PenServ Plan Services, Inc.; Kim Cochrane,... READ MORE

Retirement plans figure heavily as a tool to help employees achieve financial well-being, says a recent report.  In its 2022 Benefits Strategy & Benchmarking Survey, insurance broker and consulting firm Gallagher studied 225 employers in the K-12 education sector. They found growing interest... READ MORE