John Iekel

The Pension Benefit Guaranty Corporation (PBGC) reports that its single-employer program continues to show vitality, while its multiemployer program remains mired in red ink. The fresh data comes in the recent update to the PBGC’s Pension Insurance Data Tables, which includes data from 2018 and... READ MORE

Some employers are responding to pandemic-related economic stresses by suspending employer contributions to employees’ retirement plans and accounts. A recent blog entry notes that some employers are thinking about suspending required employee contributions and asks whether automatic enrollment may... READ MORE

The IRS has announced that it is extending relief to plan participants whose spouses are laid off and that take COVID-related distributions or loans from their retirement accounts, as well as new safe harbors for loan repayments. In Notice 2020-50, issued on June 19, the IRS expands the categories... READ MORE

Economic stress caused by the COVID-19 pandemic has led to new pressures on retirement plan sponsors, including consolidation. One result may be additional impetus for multiple employer plans and pooled plan arrangements, a recent blog post suggests.   In “Will COVID-Related 401(k) Plan... READ MORE

The IRS and Treasury are inviting the public to make recommendations regarding items to include in the 2020-2021 Priority Guidance Plan. The IRS made the announcement on June 10 in Notice 2020-47. The 2020-2021 Priority Guidance Plan will identify guidance projects that the Treasury Department and... READ MORE

The American Retirement Association (ARA) has provided the Department of Labor with some comments on dealing with potential issues regarding pooled employer plans (PEPs). The June 9 letter to Jeanne Klinefelter Wilson, Acting Assistant Secretary of Labor the Employee Benefits Employee Benefits... READ MORE

Legislation now before the Ohio House of Representatives would create a defined benefit plan for employees of private sector employers. It is believed to be the first such state proposal utilizing a DB plan rather than a defined contribution plan.   HB 645, introduced May 19 by Reps. Stephanie... READ MORE

The volatility that has characterized defined benefit plans’ finances continued unabated through May, says a recent report.   DB plan finances improved by some measures as June approached, says October Three in “Markets 2020—DB Finance as of the end of May 2020,” while other factors spelled... READ MORE

The IRS says in Announcement 2020-7 that it plans to issue opinion letters concerning the third six-year remedial amendment cycle for pre-approved DC plans by Jun 30, 2020 or shortly after that date. It made the announcement on June 1, 2020, which is also the date on which it is effective.... READ MORE