John Iekel

PBGC Modifies Two Form 5500 Schedules, Seeks OMB Nod

By John Iekel 5/6/2014

The Pension Benefit Guaranty Corporation has revised two schedules to be used with 2014 Form 5500 filings. The PBGC modified the Schedule MB (multiemployer defined benefit plan actuarial information) and the Schedule SB (single-employer defined benefit plan actuarial information) and related... READ MORE

PBGC Amends Premium Payment Rules for 2014 and Beyond

By John Iekel 5/5/2014

Pension plans have a lot of adjustments to make in order to comply with the PBGC premium payment rules, which the PBGC amended for plan years beginning in 2014 and beyond. And even if a plan does not owe the PBGC a premium, it still must make a premium filing. Highlights of the changes the PBGC... READ MORE

Rep. Kline: Multi-employer Pension System "Ticking Time Bomb," Requires Multi-faceted Approach

By John Iekel 5/2/2014

House Committee on Education and the Workforce Chairman Rep. John Kline (R-Minn.) didn’t mince words at a May 1 event on multiemployer pension plan reform: the current state of affairs “will inflict a lot of pain on homes and workplaces,” and something needs to be done. He made his remarks at an... READ MORE

Navigate the Complexities of Using Social Media

By John Iekel 5/1/2014

There are things you should do — and not do — in using social media. And it’s especially complicated for those in the retirement plan industry, since social media communications must comply with the rules promulgated by regulatory bodies and others. Join us for an upcoming webcast, “Realities of... READ MORE

Navigate the Complexities of Using Social Media

By John Iekel 5/1/2014

Navigate the Complexities of Using Social Media

By John Iekel 5/1/2014

MAP-21 Applied Most Often to Larger Plans with Lower Funding Ratios

By John Iekel 4/30/2014

The Moving Ahead for the 21st Century Act (MAP-21) pension-funding stabilization provisions, which have been in effect for two years, are most likely to be applied to the determination of funding requirements of larger plans, those with lower funding ratios and plans with a higher number of... READ MORE

A Better Methodology for Monitoring Target Date Funds

By John Iekel 4/29/2014

Target date funds play an increasingly important role in retirement plans, and monitoring a plan’s TDF options is fast becoming one of the most important fiduciary obligations plan sponsors face in managing their retirement plan investment lineup. According to a white paper by Cammack Retirement... READ MORE

In-plan Roths Catching On

By John Iekel 4/27/2014

More and more employers are making Roth accounts available within their DC plans — and more employees are taking them up on the offer, according to a new white paper from Aon Hewitt. The number of employers that offer Roths within their DC plans more than quadrupled over the last six years, hitting... READ MORE

Restatement Period for Pre-approved DC Plans Opens May 1

By John Iekel 4/25/2014

Defined contribution plans that were rewritten between May 1, 2008 and April 30, 2010 and that the IRS pre-approved need to be restated with the IRS. The six-year restatement period begins May 1, 2014 and ends April 30, 2016. The IRS issued a reminder in Announcement 2014-16.Employers using pre-... READ MORE

New Guidance Issued on Pre-approved DC and 403(b) Plans

By John Iekel 4/25/2014

In two recent pronouncements, the IRS issued plan document guidance for pre-approved defined contribution plans being restated for the Pension Protection Act of 2006 (Announcement 2014-16), as well as 403(b) arrangements (Revenue Procedure 2014-28). According to the latest ASPPA asap, written by... READ MORE

GAO Reports Fewer Retirement Plans But More Participants

By John Iekel 4/24/2014

A recent report from the U.S. Government Accountability Office found that while 81,000 new employer-sponsored retirement plans were formed during the 3-year period between 2009 and 2011, the overall trend was negative due to plan terminations — even with increased tax incentives. In addition, new... READ MORE

Almost Half of Employers Say ACA Affects Their Retirement Plans

By John Iekel 4/23/2014

Just under half of employers in a study by the LIMRA Secure Retirement Institute say that the Affordable Care Act has affected the way they run their retirement plans and how much they spend on them. According to the LIMRA study, 55 percent of the employers that have made changes because of the ACA... READ MORE

IRS Allows Millions in Questionable Self-employed Retirement Plan Deductions, IG Says

By John Iekel 4/22/2014

The Internal Revenue Service can do more to identify improper deductions for contributions the self-employed make to their simplified employee pension (SEP) plan retirement accounts. And it could bring in $71 million over five years if it does, says the Treasury Inspector General for Tax... READ MORE

Milliman: Pension Plan Liabilities Grew in March

By John Iekel 4/21/2014

Pension funding status slipped in March and liabilities grew, says a report by consulting and actuarial firm Milliman, Inc. Milliman reports that for 100 of the largest U.S. DB plans, pension liabilities grew to the tune of a collective $5 billion. Milliman blamed a drop in the monthly discount... READ MORE

Graff Reaffirms Support for Real Solutions to Retirement Issues

By John Iekel 4/16/2014

In an exclusive interview with Christopher Carosa of FiduciaryNews, ASPPA Executive Director/CEO Brian Graff reaffirms his strong support, and that of ASPPA and its sister organizations, for real and tangible action to ensure a secure retirement for working Americans. Graff tells Carosa that a... READ MORE

PBGC Proposal Would Allow New Rollover Option

By John Iekel 4/14/2014

The Pension Benefit Guaranty Corporation has proposed allowing an employee to roll over funds from a DC plan into a DB plan. The proposal, which the PBGC issued on April 1 and was published in the Federal Register on April 2, is intended to increase returns by making rollovers easier and removing... READ MORE

Small Businesses Find Fee Disclosures Clearer, Study Says

By John Iekel 4/14/2014

A majority of small businesses said in a recent study that the fee disclosure statements they receive from plan providers and vendors are more understandable than those they received in 2012. ShareBuilder 401(k) reports that 62 percent of small businesses in its recent nationwide study find the... READ MORE

IRS Seeks to Ease Plan-to-Plan Rollovers

By John Iekel 4/14/2014

New guidance from the IRS may make the plan-to-plan rollover process a little smoother. Revenue Ruling 2014-9, issued on April 3, is intended to make it easier for plan participants to consolidate their retirement savings accounts by making it easier for them to move assets from one employer plan... READ MORE

Funding Ratio of S&P 1500 DB Plans Down in March

By John Iekel 4/13/2014

The funding ratio of DB benefit plans sponsored by employers in the S&P 1500 offer fell slightly in March. Mercer found that the funding ratios of those companies’ DB plans slipped to 85 percent; it had been 87 percent in February. Mercer attributes the drop not to a dip in the U.S. economy,... READ MORE

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