John Iekel

Things Plan Sponsor Clients Won’t Tell You

By John Iekel | 4/18/2016

“It’s all about communication.” That sums up the core message that Chatham Partners Managing Director Joshua Dietch and UBS Financial Services Senior Vice President for Wealth Management Harris Gignilliat conveyed in an April 18 workshop presentation at the 15th annual NAPA 401(k) Summit.Advisors... READ MORE

Frustration with SEC in House Oversight Hearing

By John Iekel | 10/27/2015

An Oct. 23 hearing held by a subcommittee of the House Financial Services Committee became the latest stage on which House members expressed frustration over proposals related to fiduciary regulation. The Subcommittee on Capital Markets and Government hearing, “Oversight of the SEC’s Division of... READ MORE

Pension Reform Proposal May Go to California Voters

By John Iekel | 10/20/2015

Like everyone else from sea to shining sea, voters in the Golden State will be helping select a new president and representatives in Congress in 2016. But they’ll have more than that to consider — the ballot-initiative-prone state also may include a proposal concerning public pensions. A bipartisan... READ MORE

House Committee Passes Bill That Would Delay Fiduciary Rule

By John Iekel | 10/2/2015

The House Financial Services Committee has given a nod to a bill that would delay the Department of Labor (DOL) from implementing its proposed fiduciary rule. H.R. 1090, the Retail Investor Protection Act, passed the committee by a 34-25 margin on Sept. 30.The bill, which Rep. Ann Wagner (R-Mo.)... READ MORE

Website Privacy a Fresh Concern for Plans

By John Iekel | 9/30/2015

ERISA does not preempt the application of all federal laws and regulations to retirement plans — and that includes website privacy standards set by the Federal Trade Commission. In a recent post on his Business of Benefits blog, Robert Toth, Principal at Toth Law, discusses a recent court ruling on... READ MORE

IRS Shuts Down Email Questions to Employee Plans Office

By John Iekel | 8/3/2015

Beginning Oct. 1, it’s back to the 20th century for anyone who used to ask a question of the IRS Employee Plans Office. The IRS announced on July 31 that as of that date, that office will no longer answer technical questions by email, nor will it accept forwarded messages from IRS Customer Account... READ MORE

Will DOL’s New ‘North Star’ Work?

By John Iekel | 7/22/2015

The North Star isn't just a celestial body — it’s how Deputy Assistant Secretary of Labor Judy Mares characterized an enforceable best interest standard in her remarks at a lively Q&A discussion at the NAPA D.C. Fly-In Forum July 21.But other speakers at the annual event in Washington, D.C.... READ MORE

Fiduciary Rule Pushmi-Pullyu Continues

By John Iekel | 7/22/2015

The Pushmi-Pullyu, a two-headed animal character from author Hugh Lofting’s Doctor Dolittle series of children’s books, does not actually exist. But the back-and-forth over the Department of Labor’s proposed fiduciary rule is enough to make one wonder if maybe it really does after all. July 21... READ MORE

Lawmakers Grill Perez on DOL Fiduciary Rule

By John Iekel | 6/18/2015

A June 17 Capitol Hill hearing on the DOL’s proposed fiduciary rule featured pointed attacks by members of Congress and a defense of the rule by DOL Secretary Thomas E. Perez — providing ample illustration that the debate over the increasingly controversial proposal is far from over. Rep. David... READ MORE

SEC Offers Cybersecurity Guidance

By John Iekel | 5/7/2015

Cyber attacks, and the threat they pose to financial advisory firms and their clients, prompted the recent release by the SEC’s Division of Investment Management of some steps that can protect against them.The guidance points out that the use of technology makes it necessary to protect confidential... READ MORE

Public Pension Strain on States Likely to Continue, S&P Says

By John Iekel | 4/7/2015

State pension plans are likely to continue affecting state budgets and funding, says Standard & Poors. In a study published March 24 on RatingsDirect, S&P indicated that the strains state pension plans face and cause are not likely to end any time soon.The factors upon which S&P bases... READ MORE

Game On!

By John Iekel | 4/6/2015

457s: More Coverage Than You Think

By John Iekel | 4/1/2015

With the industry's focus on 401(k)s, DB plans and 403(b)s, 457 plans garner much less attention. Yet, according to a recent report by the National Association of Government Defined Contribution Administrators (NAGDCA), to conclude that they are insubstantial is very much mistaken.In its “Public... READ MORE

Excellence from Plan Sponsors’ Perspective

By John Iekel | 3/24/2015

What constitutes excellent service? That’s an important question for an advisor, since the ultimate goal is to provide exactly that to clients and ultimately plan participants. To help answer this question, three plan sponsors offered their insights in a March 23 panel discussion at the 2015 NAPA... READ MORE

Building Engagement Through Fun and Games

By John Iekel | 3/24/2015

Are your clients having trouble building engagement with and participation in a retirement plan? Is your level of engagement with customers moribund? If so, have you considered what the processes you use are like? Are they…fun?Speaking at a March 24 general session at the 2015 NAPA 401(k) Summit,... READ MORE

TDF Trends and Best Practices

By John Iekel | 3/23/2015

Tips on how best to serve clients with target-date funds were the focus of a March 23 session at the 2015 NAPA 401(k) Summit.PIMCO Executive Vice President and National Retirement Sales Manager Sean S. Murray, SageView Advisory Group Senior Investment Advisor B. Todd Stewart, and Pensionmark... READ MORE

State Role in Expanding Coverage Doesn’t Have to Be Partisan

By John Iekel | 3/23/2015

It is been said that states are laboratories of democracy. If that is so, then the effort to expand participation in retirement plans is one of the latest subjects of our great experiment in federalism. A discussion by NAPA executive director Brian Graff and Illinois State Sen. Daniel Biss (D) at... READ MORE

Growing 3(16), 3(21) and 3(38) Practices

By John Iekel | 3/23/2015

“Let’s face it, the advisor community is changing.” With that, David Levine, Principal, Groom Law Group, Chartered, captured the message and import of a March 23 workshop session at the 2015 NAPA 401(k) Summit on opportunities for growing 3(16), 3(21) and 3(38) practices. The session looked at some... READ MORE

'No Advice' Rule a Top-Tier Issue

By John Iekel | 3/22/2015

“The reality is, retirement is the new health care. It’s a top-tier issue.” Starting with that observation by NAPA executive director Brian Graff, a spirited discussion of the proposed fiduciary — or “no advice” — rule highlighted the opening session of the NAPA 401(k) Summit March 22. The... READ MORE

Iowa Bills Would Eliminate Taxes on Retirement Income

By John Iekel | 3/9/2015

Identical bills before both chambers of the Iowa legislature would end state taxation of pensions and other forms of retirement income — but only through 2020. HF 280 and SF 277 would remove from the Iowa income tax law two provisions that define income as including all forms of retirement income,... READ MORE

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