John Iekel
By John Iekel 9/26/2022
What implications do employment trends have for retirement benefits and retirement security? Recent research and analysis offer a look at those trends and their effects on retirement and related benefits.
Employment Trends
The pandemic, the Great Resignation, and a variety of economic factors...
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By John Iekel 9/26/2022
The IRS on Sept. 26 in Notice 2022-45 announced that it is extending the deadline by which IRAs and non-governmental 403(b)s must be amended under the CARES Act and the Taxpayer Certainty and Disaster Tax Relief Act of 2020.
CARES Act and Relief Act
Specifically, the deadline is extended under...
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By John Iekel 9/21/2022
The Congressional Research Service (CRS) has released an updated version of its report concerning the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). It includes discussion of pending legislation that would affect both.
The updated version of “Social Security: The...
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By John Iekel 9/14/2022
Franklin Templeton announced Sept. 13 that it is moving its 403(b) business to PCS Retirement’s Aspire 403(b) platform. Aspire is a division of PCS Retirement and is the largest independent recordkeeper serving K-12 retirement plans in the United States.
To date, says Franklin Templeton, most 403(...
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By John Iekel 9/12/2022
Legislation that would create Massachusetts Secure Choice, a state-run retirement program that would provide coverage for private-sector employees whose employers do not offer a retirement plan, is now before the Rules Committees of both chambers of the Bay State’s legislature.
The legislation was...
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By John Iekel 9/9/2022
The pilot of the Colorado SecureSavings, the Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan, will launch in October.
The pilot will not be broadly open; the Colorado Secure Savings Board is set to work with a select group of...
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By John Iekel 9/7/2022
As the dust settles from the pandemic and we take stock of the debris, it’s instructive to consider how it affected retirement saving and retirement accounts. A recent study looks at that, and adds an historical perspective that also looks at the effects of another recent significant disruption —...
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By John Iekel 9/2/2022
Summer heat held in August — not only for California, but also for its state-run retirement plan. The CalSavers Retirement Savings Board, which administers CalSavers, reports that by many measures strong growth remains consistent.
Some of the growth reflects the June 30, 2022 deadline for...
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By John Iekel 8/29/2022
CalSavers, the state-run program that provides retirement plan coverage to private-sector employees whose employers do not, will cover nearly all such employees in the Golden State. Gov. Gavin Newsom (D) on Aug. 26 signed legislation further expanding the program.
S. 1126 expands the definition...
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By John Iekel 8/19/2022
It may not be the first in this instance, but the First State has joined its sisters that provide retirement plan coverage to employees whose private-sector employers do not.
Gov. John Carney (D) on Aug. 18 signed into law HB 205, the measure that creates the Delaware Expanding Access for...
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By John Iekel 8/19/2022
The Department of Labor’s Employee Benefits Security Administration (EBSA) has announced that it is seeking nominations for open positions on the Advisory Council on Employee Welfare and Pension Benefit Plans.
More commonly known as the ERISA Advisory Council, the Council’s duties are to advise...
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By John Iekel 8/18/2022
CalSavers was formally launched three years ago. But that doesn’t take place in a vacuum — it necessarily entails interactions with employers as well as individual participants. So how is that going?
Registrations were phased in based on employer size. Employers with more than 100 employees were...
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By John Iekel 8/9/2022
The July 31, 2022, deadline for restating pre-approved 401(k) plans has come and gone. If a plan missed that deadline, now what? A recent blog entry offers some suggestions.
July 31 was the deadline for the latest plan remedial amendment cycle (Cycle 3). In a recent entry in the JacksonLewis blog...
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By John Iekel 8/8/2022
Like a rising summer thermometer, CalSavers’ registrations, accounts and assets have been climbing higher. And the CalSavers Retirement Savings Board, which administers the state-run retirement plan for employees whose employers don’t offer one, reports that by many measures the growth has been...
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By John Iekel 8/4/2022
The IRS on Aug. 3 announced in Notice 2022-33 that it is extending the deadline for amending a retirement plan to reflect the provisions of Section 2203 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Section 2203 concerns a waiver of required minimum distributions (RMDs). ...
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By John Iekel 7/26/2022
The Social Security Administration (SSA) does not prepare Social Security statements out of the kindness of its heart—it is required to do so by law. The Congressional Research Service (CRS) has issued a report on the statements, which are useful regardless of the reason they are prepared.
Zhe Li...
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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....
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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...
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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...
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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, ...
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