John Iekel

March can be a tumultuous month. And in 2023, private-sector pension plans reflected the volatility of the transition from winter to spring.   Funded Ratios and Status. Like the thermometer following a late snowstorm, funded ratios fell. Insight Investment reports that it dropped by 1.6 percentage... READ MORE

The IRS has updated the information it provides for determining the tax treatment of pension and annuity income under the General Rule. The information is contained in revised Publication 939, General Rule for Pensions and Annuities, which the IRS has updated for 2022 reporting. The publication... READ MORE

A bill that would create a state-run multiple-employer retirement savings plan in the Show Me State is moving through the state House of Representatives toward consideration by the full chamber. The measure, which Rep. Michael O’Donnell introduced on Jan. 4, had been referred to two House... READ MORE

Are younger generations ready for retirement? A more complicated question than it appears at first blush, and it starts with the basics. Adulting?    A variety of factors are relevant in answering the question of whether younger adults are ready or even preparing at all — and one of them is... READ MORE

The Treasury Department and the IRS seek feedback regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law. The matter has relevance not only for saving and investment, but also for IRAs.  The announcement comes in IRS Notice 2023-27.  The IRS also seeks... READ MORE

The Department of Labor (DOL) in its budget proposal for fiscal year 2024 seeks funding to implement SECURE 2.0, and that includes retirement-related priorities.  The DOL seeks $4,672,000 to Implement SECURE 2.0. The DOL indicates that it has no choice but to do so.  The Consolidated... READ MORE

Private-sector employees in the Silver State whose employers do not offer a retirement plan could be covered by a state plan, if a bill now before the state Senate is passed and enacted.  Senate Chief Majority Whip Dallas Harris (D-Clark County) on March 16 introduced SB 305, a measure that would... READ MORE

The Department of Labor (DOL) in its budget proposal for fiscal year 2024 seeks funding to fuel new initiatives to make sure lost benefits go to those to whom they belong.  The DOL seeks $5 million in FY 2024 to establish a program for ensuring that missing participants receive the benefits to... READ MORE

Speed has been a hallmark of the Pension Benefit Guaranty Corporation’s (PBGC) Special Financial Assistance (SFA) Program throughout its brief — less than two-years — life. And that’s not changing anytime soon — at least not this year.  The PBGC indicates it’s not going to waste any time in... READ MORE