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John Iekel

Hawaii is seeking an executive director for the Hawaii Retirement Savings Program. Executive Assistant to the Deputy Director Nancy Bernal, who also serves as interim secretary to the Hawaii Retirement Savings Board (HRSB), made the announcement July 21.  The executive director will provide... 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
California State Treasurer Fiona Ma on July 20 announced that David Teykaerts has been appointed to serve as the executive director of CalSavers, the state-run program that provides retirement plan coverage for private-sector employees whose employers do not offer one.  Teykaerts previously spent... 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
The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a consultation paper on its review of Interpretive Bulletin (IB) 95-1, which concerns fiduciary standards applicable when selecting an annuity provider for a pension plan. SECURE 2.0 requires the DOL to review IB... 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
Amid the clouds of gloom that threaten the retirement security of some generations, there is a relative bright spot, at least according to one analyst—Generation Z.  Gen Z—defined by the Transamerica Center for Retirement Studies as those born between 1997 and 2012—so far are exhibiting hopeful... 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
Delaware is pursuing an interstate collaboration for the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) Program. It launched the program in 2022.  According to the office of State Treasurer Colleen Davis, the EARNS Program board on July 13 voted unanimously to authorize her... 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
RetirePath Virginia, the state-run program that will provide retirement plan coverage to Virginians whose private-sector employers do not, is now in operation. Phased enrollment began on July 1, 2023.  RetirePath Virginia is a payroll deduction IRA program. Employees are automatically enrolled,... READ MORE
VT Saves, the state-run program that provides retirement plan coverage for private-sector employees whose employers do not, is seeking an executive director to launch the program.  The executive director will implement a new statewide program and will work directly with the Treasurer, Deputy... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on July 11, 2023 issued a final rule amending its regulations on benefit payments, allocation of assets, and termination liability. On Sept. 30, 2019, the PBGC had published a proposed rule to amend these regulations. The PBGC did so to increase... READ MORE
So many factors are in play in running a practice and serving clients. And a session at the 2023 NTSA Summit focused on one fundamental to doing both effectively: mental health.  In “‘Holding’ Pattern: Is Mental Health Holding You Back?” Eric Jenkins, LCSW/Therapist at Willow Pines Therapeutic... READ MORE
June brings increasing warmth, and in 2023 not just because summer arrived—by a variety of measures, the same held true for private-sector defined benefit plans.  Funded Status  Reports show that the funded status of private-sector pension plans improved in June, according to October Three,... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has work to do in its review of applications for aid under the Special Financial Assistance (SFA) program, says the Office of the Inspector General (OIG).  The OIG released “Audit of PBGC’s Review of Initial Special Financial Assistance Applications... READ MORE
Want to keep your employees? Offering a retirement plan could be an answer, says recent analysis.  October Three argues that employer-provided retirement plans are a potent tool to retain employees and counters what it calls “the number one problem facing American companies right now.”  Setting... READ MORE
An important deadline fast approaches for many plans—the Form 5500 is due to be filed by July 31.  Plan sponsors of calendar-year plans must file their Form 5500 series returns by the last day of the seventh month after the plan year ends, which for calendar year plans is July 31 of the year after... READ MORE
Cybersecurity—and its importance to retirement plans and savings—being top of mind, Assistant Secretary of Labor Lisa M. Gomez has some suggestions on reducing the risk of fraud or loss to your retirement account. Register, set up, and regularly monitor an online account.  Regularly checking a... READ MORE
The New Jersey Secure Choice Savings Program Board, the entity that runs New Jersey Secure Choice—the state-run savings program that provides retirement plan coverage to private-sector employees in New Jersey whose employers do not offer one—is seeking a program administrator.  The board has... READ MORE