John Iekel

The priority guidance plan that the Treasury and IRS have issued for 2023-24 includes plans for action that will affect retirement plans. They unveiled the plan on Sept. 29.  The 2023-2024 Priority Guidance Plan contains projects that will be the focus of guidance and regulatory efforts by the... READ MORE

The IRS on Sept. 13 issued guidance on exceptions from the electronic filing requirements for certain filers of Forms 8955-SSA and 5500-EZ. The guidance comes in Revenue Procedure (Rev. Proc.) 2023-31.  Rev. Proc. 2023-31 supersedes Rev. Proc. 2015-47, 2015-39 IRB 419 regarding the following forms... READ MORE

Of course, laws and regulations, as well as fiduciary duty, spell responsibilities that must be fulfilled. But sometimes what one does not do is as important as what one does, an industry expert reminds.  It is helpful to not only know what to do but also what to avoid, argues Mark Olsen, Managing... READ MORE

The timing of when one leaves the workforce has a variety of effects—and a recent study examines whether, and how, it affects one’s lifestyle during retirement. In “Retirement Consumption and Pension Design,” National Bureau of Economic Research Working Paper 31628, researchers study whether... READ MORE

In 2023, CalSavers was beset by the summer doldrums. The CalSavers Retirement Savings Board reports that this last summer, the program grew by some measures, but remained stable or even shrank slightly by others.  Employer registrations were lower at the end of summer than they were at its start;... READ MORE

If you made an error with IRA contributions or discover one, there still is time to correct it. But not much time—the deadline for fixing those mistakes is Oct. 16, 2023.  Among the errors that could cause someone to seek to make an adjustment, observes Sarah Brenner, Director of Retirement... READ MORE

The IRS on Sept. 13 issued guidance on exceptions from the electronic filing requirements for certain filers of Forms 8955-SSA and 5500-EZ. The guidance comes in Revenue Procedure (Rev. Proc.) 2023-31.  Rev. Proc. 2023-31 supersedes Rev. Proc. 2015-47, 2015-39 IRB 419 regarding the following forms... READ MORE

Any retirement fund invests its funds in some way to help them grow, and that includes those run by states. A look at how CalSavers handles the investment of its funds sheds some light on how one of the largest state-run retirement plans fosters growth of their funds.  Assets CalSavers had assets... READ MORE

CalSavers has expanded the range of services for which it is seeking professional assistance.  On Sept. 5, CalSavers issued an RFP (request for proposals) announcing that it is seeking a contractor to provide investment consulting services. CalSavers, the state-run program that provides retirement... READ MORE