John Iekel

Financial Wellness: ‘One Can’t Look at Retirement in a Vacuum’

By John Iekel 4/6/2017

“Life is complicated and has many moving pieces. One can’t look at retirement in a vacuum,” American Academy of Actuaries Senior Pension Fellow Ted Goldman says of the effort to address and foster employees’ financial wellness.Goldman spoke at an April 5 session of the Enrolled Actuaries meeting in... READ MORE

PBGC Single Employer Coverage: A Complicated Failsafe

By John Iekel 4/5/2017

The security the Pension Benefit Guaranty Corporation (PBGC) offers plans and their participants comes at a price — obtaining that succor can be complicated, as PBGC panelists attested at an April 3 session of the Enrolled Actuaries meeting in Washington, D.C. The conference was sponsored by the... READ MORE

‘No Place to Hide’ Under DOL’s Fiduciary Rule

By John Iekel 4/4/2017

One of the basic rules for fiduciaries is that “there is no place to hide,” says Keith Sartain, a partner at AON Hewitt.Sartain spoke at an April 3 session of the Enrolled Actuaries meeting in Washington, D.C. cosponsored by the American Academy of Actuaries and the Conference of Consulting... READ MORE

EA Meeting Features Washington Update

By John Iekel 4/4/2017

We have “an historic opportunity” — there is a “dynamic policy-making situation just ahead,” believes Earl Pomeroy, senior counsel at Alston & Bird and a former member of the House of Representatives.Pomeroy addressed an April 3 general session of the Enrolled Actuaries meeting in Washington, D... READ MORE

Knowing You Should Be Prepared and Being Prepared Are Two Different Things

By John Iekel 3/27/2017

There is a disconnect between knowing one should be ready for retirement and actually being so. Recent research doesn’t just convey bad news in that regard, however — there’s good news, too.In “2017 Financial Security National Survey of Private Sector Employed Adults Age 18-64,” a study conducted... READ MORE

A Place at the Table for Actively Managed Funds

By John Iekel 3/17/2017

Some plan fiduciaries contend that passively managed funds allow one to avoid ERISA liability. But are they a panacea? A recently released white paper suggests they are not.In “Actively Managed Funds Remain Appropriate Investment Options For 401(k) Plans,” a paper by Stephen M. Saxon and Jason H.... READ MORE

Public Pension Funding: A Matter of Perspective?

By John Iekel 3/17/2017

It’s no secret that public-sector pension plans in the United States face many challenges. But is there more than raw figures at play? A recent paper suggests that the way accounting rules are applied has something to do with how their condition is perceived and addressed.In “Funding Public... READ MORE

Embrace of the Fiduciary Rule and the Spirit Behind it

By John Iekel 3/13/2017

Not all of the reaction to the Department of Labor’s (DOL) fiduciary rule has been negative, or even grudging, acceptance. Every class had at least one kid who not only did their homework but also turned it in before the deadline — and it turns out that proclivity is alive and well in the boardroom... READ MORE

Addressing Retirement Plan Cybersecurity

By John Iekel 3/10/2017

It’s not really new that cybersecurity is a concern for employers. But it bears repeating — and especially in the context of retirement plans, since plan participants’ personal and financial information is maintained and shared by multiple parties.Plan sponsors, record keepers and other service... READ MORE

Two Paths to Success

By John Iekel 3/6/2017

Third party administrators are, at their core, all about service. It’s their bread and butter, their raison d’etre. So while any employer seeks and values engaged employees, they are even more desirable for service providers, since their commitment and energy spell better service for clients. And... READ MORE

Long-Term Disability: Forgotten Risk to Retirement Income

By John Iekel 3/6/2017

Drains on retirement income abound. That’s natural in the course of daily life. But one of them — long-term disability — is largely unheralded, despite its being less than rare, argues a recent analysis.In “Addressing the Risk of Long-Term Disability on Retirement Income,” an article appearing in... READ MORE

NASRA: Public Pension Investment Return Assumptions Add to Plans’ Challenges

By John Iekel 2/28/2017

Public pension plans across the country face many challenges, to put it mildly — and among them, says a recent report, are the investment return assumptions for those plans.In “NASRA Issue Brief: Public Pension Plan Investment Return Assumptions,” the National Association of State Retirement... READ MORE

ARA Comments on Proposed Rules for Oregon Retirement Savings Plan

By John Iekel 2/23/2017

The American Retirement Association on Feb. 21 sent a letter to the Oregon State Treasury containing its comments on the Oregon Retirement Savings Plan (ORSP), also known as OregonSaves.The ARA thanked the Oregon Treasury and the Oregon Retirement Savings Board for its work on the proposed rules,... READ MORE

Financial Services Company Sues CFPB

By John Iekel 2/22/2017

An unnamed financial services company is suing the Consumer Financial Protection Bureau (CFPB) in the U.S. District Court for the District of Columbia over the CFPB’s exercise of power and the plaintiff’s contention that it is unchecked.The unnamed company seeks in John Doe Company v. Consumer... READ MORE

Are the Fiduciary Rule’s Prospects Really that Dim?

By John Iekel 2/17/2017

The Department of Labor’s (DOL) fiduciary rule appeared on track. Then the November election ushered into office an administration that wasted little time in questioning the rule and has raised the possibility of delay in application, if not outright rescission. But are the rule’s prospects really... READ MORE

ASPPA Connect Observes Presidents Day

By John Iekel 2/17/2017

In observance of Presidents Day on Monday, Feb. 20, the ASPPA offices will be closed. Accordingly, ASPPA Connect will not be published on Feb. 20. ASPPA Connect will reappear on Wednesday, Feb. 22.Everyone is familiar with the big names in the pantheon of U.S. presidents, but there are many who are... READ MORE

Ultimately No Turning Back on Fiduciary Rule?

By John Iekel 2/13/2017

The Trump administration’s dramatic series of rapid-fire executive orders and regulatory announcements and reviews purport to delay, perhaps gut or even ultimately kill the Department of Labor’s fiduciary rule. But a recent analysis suggests that the genie may be out of the bottle regardless.In a... READ MORE

The Workforce and Financial Wellness: Challenging Dynamics

By John Iekel 2/6/2017

At a Feb. 3 U.S. Chamber of Commerce conference, “The Shifting Paradigm of Retirement,” a panel of experts addressed the changing dynamics of the workforce and its financial wellness.“We know that millions of Americans are facing financial issues,” said panelist Prudential Senior Vice President... READ MORE

An ‘Opportunity to Fix’ the DOL Rule

By John Iekel 2/6/2017

The Department of Labor’s (DOL) fiduciary rule, as well as other regulations and laws that affect and govern retirement plans, were part of the discussion at the U.S. Chamber of Commerce meeting on Feb. 3.“The Shifting Paradigm of Retirement,” a morning program in which speakers from the federal... READ MORE

Hatch Cites ‘Opportunity’ for Tax Reform

By John Iekel 2/1/2017

There is now an “even greater opportunity” for tax reform, Senate Finance Committee Chairman Orrin Hatch (R-UT) told the U.S. Chamber of Commerce at a Feb. 1 meeting at its Washington, DC headquarters. Hatch said he hopes there will be a tax reform proposal “in the near future” but spoke in broad... READ MORE

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