Recent Articles From John Iekel

John Iekel

John Iekel

John Iekel

By John Iekel12/29/2014 • 0 Comments

All disbursements from a retirement plan scheduled to be made at the same time are treated as a single distribution even if they are sent to multiple destinations, under a new rule that becomes mandatory as 2015 dawns.

By John Iekel12/19/2014 • 0 Comments

Pension payments for state retirees can be withheld when income taxes are insufficient to cover them. This approach, taken by New Jersey Gov. Chris Christie (R), stands as the New Jersey Senate on Dec. 18 voted not to override Christie’s veto of a bill that would have required quarterly contributions to the state’s defined benefit plan.

By John Iekel12/16/2014 • 0 Comments

It’s no secret that state pension plans are beset by obligations beyond their ability to meet. A new study by State Budget Solutions (SBS) is the latest to outline how serious the problem is, based on 2014 data.

By John Iekel12/16/2014 • 0 Comments

What does the dawn of 2015 mean for 403(b) advisors? NTSA Net asked the 2014 NTSA Elite Advisors for their insights on what advisors and those who offer and administer 403(b)s may expect next year — and how they can be ready.

By John Iekel12/15/2014 • 0 Comments

Easier to administer, not subject to an early withdrawal penalty tax, offering an opportunity for an advisor to make a living, especially in a small marketplace — what’s not to love about the 457 plan? Security Benefit execs Mark Turner and Thomas Granger discussed 457s in a Dec. 4 NTSA webcast, “457 Plans in the Public Sector: History, Evolution and Opportunities.

By John Iekel12/12/2014 • 0 Comments

The IRS has made some key reminders available in Special Edition Tax Tip 2014-24 for holders of individual retirement accounts (IRAs). Advisors, as well as and employers that facilitate employees’ establishment of IRAs, may find this information useful to share with their clients and employees.

By John Iekel12/12/2014 • 0 Comments

The IRS in Notice 2014-77 has updated the 2014 Cumulative List of Changes in Plan Qualification Requirements. The list is primarily for single-employer individually designed DC plans and single-employer individually designed defined benefit plans that are in Cycle E to use when they submit determination letter applications for plans between Feb. 1, 2015 and Jan. 31, 2016.

By John Iekel12/11/2014 • 0 Comments

Michigan Gov. Rick Snyder (R) on Dec. 10 announced that Detroit is emerging from bankruptcy. This came two days after Detroit Emergency Manager Kevyn Orr issued his final order, which affirms changes made and agreed to regarding Detroit’s pension plan.

By John Iekel12/10/2014 • 0 Comments

New Year’s Eve is the deadline for most 2014 required minimum distributions to be made. The IRS issued that reminder in information release IR-2014-112. Generally, RMDs from 401(k), 403(b) and 457 plans as well as IRAs must be made by Dec. 31.

By John Iekel12/5/2014 • 0 Comments

On Jan. 2, 2015, the IRS Tax Exempt and Government Entities (TE/GE) Division will transfer those duties to the IRS Office of Associate Chief Counsel (TE/GE), which then will take on technical responsibilities concerning qualified retirement plans and IRAs.

By John Iekel12/3/2014 • 0 Comments

Kentucky and Tennessee share more than a long border — information about public pension plans in both states is hard to come by too. And that may not be changing any time soon.

By John Iekel11/26/2014 • 0 Comments

Two of the states beset by the most intractable state pension problems have hit roadblocks in their efforts to address those issues. The pension reform law enacted in Illinois has been declared unconstitutional, and new reports and accounting procedures show that New Jersey’s pension system is in worse shape than had been thought.

By John Iekel11/25/2014 • 0 Comments

The IRS announced on Nov. 21 that modified listings of required modifications (LRMs) for 403(b) plans will be available soon. It says it will make them available in time for the April 30, 2015 deadline for 403(b) plan sponsors to submit pre-approved plans under the IRS’ 403(b) pre-approved plan program.

By John Iekel11/21/2014 • 0 Comments

The University of California Board of Regents on Nov. 19 debated whether it will raise tuition by up to 5% in each of the next five years. One of the reasons is to address $7.2 billion in unfunded university pension plan liabilities.

By John Iekel11/20/2014 • 0 Comments

Atlanta, Ga. and Jacksonville, Fla. both face fiscal pressures over their public pension systems and have been sued over their attempts to ameliorate that stress. But the courts took different tacks in their efforts to rein in public pension issues.

By John Iekel11/13/2014 • 0 Comments

Major cities in disparate corners of America provide a fresh — and stark — illustration of how widespread public pension funding shortfalls are.

By John Iekel11/10/2014 • 0 Comments

The Government Accountability Office in a recent report has highlighted one of the ways public- and private-sector deferred benefit plans differ — valuation. “Pension Plan Valuation: Views on Using Multiple Measures to Offer a More Complete Financial Picture” outlines and discusses these differences and their implications.

By John Iekel11/6/2014 • 0 Comments

We hear a lot about how well Americans are saving — or not — for their retirement. Legg Mason Global Asset Management has unveiled EZ IRA, a payroll deduction IRA program intended to provide a way to build that savings rate.

By John Iekel10/31/2014 • 0 Comments

Plan sponsors of 403(b)s offered by institutions of higher learning are changing them in a variety of ways, reports Cammack Retirement Group in their new report, the "Higher Education Retirement Plan Survey."

By John Iekel10/23/2014 • 0 Comments

The IRS and Social Security Administration have issued their cost-of-living adjustments relevant to retirement benefits for 2015.

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