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Recent Articles From John Iekel

John Iekel

John Iekel

John Iekel

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.

By John Iekel10/22/2014 • 0 Comments

Discussion over public pensions is going on all over the United States. But two of them in Texas — involving city firemen — cast the matter in a different light: Houston and Fort Worth and their firefighter organizations are at odds over the pensions those cities provide their current and future fire and rescue personnel.

By John Iekel10/22/2014 • 0 Comments

Education funding has figured prominently in the Michigan gubernatorial race, says Mackinac Center for Public Policy Assistant Director for Fiscal Policy James Hohman, because of the underfunding of the state school system’s retirement plan.

By John Iekel10/21/2014 • 0 Comments

How do you build a successful practice? In the inaugural 403(b) Advisor Web Forum on Oct. 10, NTSA Executive Director Chris DeGrassi asked advisors Bruce Smith, Richard Dobson and Jerald Wozniak — all of whom are 2014 NTSA Elite Advisors — for their insights on aspects of how best to go about doing just that.

By John Iekel10/17/2014 • 0 Comments

Public pensions can be fair game when a city government declares bankruptcy under federal law, the federal judge overseeing Stockton, Calif.’s bankruptcy has ruled.

By John Iekel10/17/2014 • 0 Comments

Retirement plans and health benefits are different things and serve different purposes. Nonetheless, they can intersect functionally — and retirement accounts and health savings accounts are a prime example, as a BenefitsPro report observed recently.

By John Iekel10/14/2014 • 0 Comments

State pension plans, long beleaguered and adrift in a sea of red, may have turned a corner. A report by LifeHealthPRO says that data from Bloomberg show a slight increase in the states’ ability to meet their pension requirements.

By John Iekel10/13/2014 • 0 Comments

A new white paper by the Conference of Consulting Actuaries’ Public Plans Community targeted to actuaries and retirement boards examines the development of actuarial funding policies and practices.

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