John Iekel

Most of us in the northern hemisphere experienced plenty of heat in July 2023. And private-sector pension plan funding was no exception, according to analysts.  Funded Status  The funded ratio of private-sector pension plans that Aon,  Insight Investment, October Three and Wilshire monitor... READ MORE

Should you de-risk your pension plan? A recent analysis takes on the matter in light of plan finances and factors present this year.    In “Management of DB Finance 2023—a Framework,” October Three looks at de-risking in the context of defined benefit plan finance, as well as factors relevant in... READ MORE

Following an audit by the Office of the Inspector General (OIG), the Pension Benefit Guaranty Corporation (PBGC) has updated documentation required in order to apply for Special Financial Assistance (SFA).  The OIG recently issued “Audit of PBGC’s Review of Initial Special Financial Assistance... READ MORE

Washington is discussing a bill that would provide retirement plan coverage for private-sector employees whose employers do not. No, not Washington state. And not Washington, as in the federal government. This measure is before the City Council of Washington, DC—the District of Columbia.  At-Large... READ MORE

By now, almost every state has at least considered legislation that would establish a state-run retirement plan, and this year alone almost half the state legislatures have considered legislation about one. A panel of key players in the plans established in some states offer an insider’s look. ... READ MORE

The IRS has updated content it provides concerning the deductibility of employer contributions to a 401(k) plan made after the end of the tax year. The material now reflects the application of the SECURE Act as well as discussion of the use of up-to-date forms.  The content is contained in the IRS... READ MORE

Pressure from the states for action on the federal Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) is increasing.  The WEP and the GPO are benefit formulas that reduce Social Security benefits for workers and their eligible family members if the worker receives (or is... READ MORE

It’s hurricane season. So far, it’s been mild, but that may not last. The current lull offers an opportunity to take preparations that will protect your plan and participants if you have not already.  The IRS offers the following tips to help be ready in case a disaster happens.  Take Advantage... READ MORE

The IRS on July 14 made multiple announcements concerning required minimum distributions (RMDs), including relief concerning RMDs and rollovers in accordance with Section 107 of SECURE 2.0. The guidance is contained in Notice 2023-54.  Transition Relief  The IRS says that after SECURE 2.0 was... READ MORE