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On Tuesday, May 12, 2020, the IRS issued Notice 2020-29 and Notice 2020-33 . These Notices included major changes to Section 125 and FSA benefits that may be financially beneficial to plan participants. Some provisions, however, require adoption...
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On Wednesday, April 29, the Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, and Department of the Treasury (the “Agencies”) released a final rule (“final rule,” or “rule”) which altered and extended the time...
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Visit our COVID-19 Resources for Employers for up-to-date information, including: CARES Act Q&A Fiduciary Q&A CARES Act webinars ...
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The CARES Act allows for qualified individuals to defer repayment of their retirement plan loan(s) through the end of the year. To be considered a "qualified individual", the participant, their spouse or dependent must have either been diagnosed wit...
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IN ACCORDANCE WITH THE CARES ACT, THE CORONAVIRUS-RELATED LOAN PROVISIONS DESCRIBED BELOW EXPIRED ON SEPTEMBER 22, 2020. Eligibility The CARES Act requires that the participant must be affected by the coronavirus pandemic to request a coronaviru...
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IN ACCORDANCE WITH THE CARES ACT, THE CORONAVIRUS-RELATED DISTRIBUTION PROVISIONS DESCRIBED BELOW EXPIRE ON DECEMBER 31, 2020. ALL CRD REQUESTS MUST BE SUBMITTED AND APPROVED BY AN AUTHORIZED PLAN REPRESENTATIVE BY NOON (ET) ON DECEMBER 28TH. Eli...
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The Coronavirus, Aid, Relief and Economic Security (CARES) Act enacted on March 27, 2020 includes several key provisions that may positively benefit your retirement plan participants. Please note that the changes now allowed due to the CARES Act a...
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As our valued client, we want to assure you that we are committed to providing continued service to you and your plan participants throughout the duration of the Coronavirus outbreak. While our employees have not been directly affected by the virus ...
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In the event that your organization is in the position that employees must be placed on furlough, it is generally acceptable to treat these situations as an unpaid leave of absence. Please speak with our account manager for additional details and to...
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On Tuesday, May 12, 2020, the IRS issued Notice 2020-29 and Notice 2020-33 . These Notices included major changes to Section 125 and FSA benefits that may be financially beneficial to plan participants. Some provisions, however, require adoption...