John Iekel

The shift from defined benefit plans to defined contribution plans is not new. It may be less common in the public sector, but it is not unknown among public employers. A recent study looks at what that has meant for the Alaska education sector.  The National Institute on Retirement Security (NIRS... READ MORE

There is pressure from state legislatures for action concerning the windfall elimination provision (WEP) and the government pension offset (GPO). Both are benefit formulas that reduce Social Security benefits for workers and their eligible family members if the worker receives (or is entitled to) a... READ MORE

The IRS has issued guidance on the expansion of the Employee Plans Compliance Resolution System (EPCRS) under Section 305 of SECURE 2.0.  The guidance is contained in Notice 2023-43, which provides interim guidance in advance of an update to Revenue Procedure (Rev. Proc.) 2021-30.  The issues the... READ MORE

The ink is barely dry on the measures that created state-run retirement plans in Connecticut and Maine that provide coverage for private-sector employees whose employers do not, but already bills are advancing in the legislatures in those states to fine-tune those programs.  Connecticut The... READ MORE

Concern about Social Security is as perennial as it is rife. A panel of experts in a recent seminar offered some suggestions for addressing the challenges facing the system.  Panelists in the recent National Institute on Retirement Security (NIRS) webinar “Social Security: What’s Next and New... READ MORE

  CalSavers, the state-run retirement plan that covers private-sector employees whose employers don’t offer a plan, is growing — but so far this year, the expansion in assets is outstripping that of registrations.    Registrations    Month-to-month growth in employer registrations was still... READ MORE

Ah, Spring: one day cold, one day warm. Like Mother Nature, private-sector pension plans showed mixed results in April, according to multiple reports.  Funded Status    Reports about how the funded status of private-sector pension plans fared in April varied, but they were fairly consistent... READ MORE

The IRS has issued an update to the 2022-2023 priority guidance plan.  The IRS had released the initial plan on Nov. 4, 2022, setting forth guidance priorities for the 12-month period from July 1, 2022, through June 30, 2023 (the plan year). It released an update to the plan in February.   The To... READ MORE

Now is the time to act in order to avoid “draconian” cuts to Social Security benefits, warns a recently released issue brief.  And doing so, continues the Center for Retirement Research at Boston College in “Social Security’s Financial Outlook: The 2023 Update in Perspective,” would be a more... READ MORE