John Iekel

By John Iekel | 10/4/2022

Legislation that could affect retirement plans is pending on Capitol Hill—the midterm elections loom and its remaining weeks after that will be a “lame-duck” session. But that may not spell doom for those bills, suggested American Retirement Association CEO Brian Graff at the Oct. 3 opening session... READ MORE

IRS Extends Plan Amendment Deadlines Under CARES, Disaster Relief Acts

By John Iekel | 9/27/2022

The IRS on Sept. 26 in Notice 2022-45 announced that it is extending the deadline for amending eligible retirement plans in relation to coronavirus-related distributions and the use of retirement funds for disaster-related assistance. More specifically, the notice addresses deadlines in relation... READ MORE

Franklin Templeton Shifts 403(b) Business to New Platform

By John Iekel | 9/16/2022

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(... READ MORE

Colorado Secure Savings Program Pilot About to Launch

By John Iekel | 9/8/2022

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; instead, the Colorado Secure Savings Board is set to work with a select... READ MORE

DOL Slightly Extends Comment Period on QPAM Exemption

By John Iekel | 9/7/2022

The Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA ) on Sept. 6 announced that it is extending the public comment period on a proposed amendment to its Class Prohibited Transaction Exemption 84-14, also known as the Qualified Professional Asset Manager (QPAM) Exemption... READ MORE

CalSavers to Cover Nearly All Employees in California

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... READ MORE

Delaware Joins States that Cover Employees Whose Employers Don’t

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 H.B. 205, the measure that creates the Delaware Expanding Access for... READ MORE

CalSavers Expansion Now Up to Newsom

By John Iekel | 8/17/2022

Expanding the scope of CalSavers is one step closer to happening. The state Assembly has passed a measure that would do so. S. 1126, a measure that would expand the definition of “eligible employer” for purposes of the CalSavers Retirement Savings Trust Act—the measure that establishes the... READ MORE

IRS Extends Plan Amendment Deadlines

By John Iekel | 8/5/2022

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). ... READ MORE

DOL Proposes Amendment to QPAM Exemption

By John Iekel | 7/26/2022

The DOL’s Employee Benefits Security Administration on July 26 announced a proposed amendment to Class Prohibited Transaction Exemption 84-14, also known as the Qualified Professional Asset Manager Exemption (QPAM). The DOL developed and granted the QPAM exemption based on the premise that its... READ MORE

Autoenrollment a Boon, Research Confirms

By John Iekel | 7/5/2022

Proponents of automatic features for DC plans have long argued that they boost participation and savings rates, and a recent study confirms that belief. “Automatic enrollment in employer‑sponsored 401(k) savings plans has transformed the way that millions of Americans save for retirement,” say... READ MORE

Delaware EARNS Act Awaits Governor’s Nod

By John Iekel | 6/28/2022

All it will take for Delaware to become the next state to offer a retirement plan that would provide coverage for employees whose employers do not offer one is the stroke of one pen. The bill, approved by both chambers of the state legislature, now awaits the assent of Gov. John Carney (D). The... READ MORE

Let States Be Savings Laboratories, Says Analysis

By John Iekel | 6/13/2022

We’ll pass on that, the U.S. Supreme Court said when asked to review a ruling on a challenge to the legality of CalSavers, California’s state-run retirement plan for private-sector employees whose employers do not offer one. Congress should take the hint, suggests a recent analysis, and let the... READ MORE

Rising Rate of Retiree Recidivism

By John Iekel | 6/9/2022

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, ... READ MORE

ARA Recommends Delay in Implementation of RMD Proposed Regs

By John Iekel | 5/27/2022

The American Retirement Association (ARA) in a May 25 comment letter has made recommendations to the IRS concerning the proposed required minimum distributions (RMD) regulations issued in February 2022, including that the IRS delay the effective date of the regulations when they are in final form... READ MORE

2022 Form 5500 Released, But Review Ongoing

By John Iekel | 5/20/2022

The Department of Labor (DOL), Treasury and Pension Benefit Guaranty Corporation (PBGC) on May 20 released the final revisions to the forms and instructions for the Form 5500 series to be used for reporting concerning plan years beginning on or after Jan. 1, 2022. They also indicated, however, that... READ MORE

Bill Would Further Expand CalSavers

By John Iekel | 5/16/2022

A bill before the California Senate would expand CalSavers, the state-run retirement plan that provides coverage to those whose employers for not, to cover nearly all employers in the Golden State. SB 1126, introduced by Sen. Dave Cortese (D-Santa Clara), would expand the definition of “eligible... READ MORE

IRS Extends Temporary Relief from the Physical Presence Requirement

By John Iekel | 5/16/2022

The IRS on May 13 announced that it is extending to the end of 2022 the temporary relief from the requirement that certain participant elections be witnessed in the physical presence of a plan representative or a notary public. In Notice 2022-27 the IRS says that due to the pandemic, it is... READ MORE

Bill Would Require Notice to Terminated Participants About Lump-Sum/Annuity Options

By John Iekel | 5/13/2022

Legislation before the U.S. Senate seeks to ensure that terminated vested participants and their beneficiaries are well-informed regarding how they receive payments. The Information Needed for Financial Options Risk Mitigation (INFORM) Act (S. 4087), introduced by Sen. Patty Murray (D-WA),... READ MORE

Missouri Retirement Savings Plan Under Consideration

By John Iekel | 5/12/2022

The Show Me State is on the verge of committing to a state-run retirement plan for private-sector employees. Legislation that would create the Missouri Workplace Retirement Savings Plan has passed the state House of Representatives, and the Senate is poised to take up its version. The Missouri... READ MORE

You are here

John Iekel

Pages

NAPA's 401(k) Rollover Specialist (k)RS Credential

Recent Headlines

Recent Comments