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The Impact of COVID-19 on Your 401k, 403b or Defined Benefit Plan

By May 1, 2020 No Comments

Six weeks ago, “NY Pause” was fully implemented. Five weeks ago, the CARES Act was signed into law. For many businesses, the impact on their 401k, 403b and defined benefit plans has been significant. ACSI (www.acsi-ny.com or mbrand@acsi-ny.com) is helping our clients consider their options and be proactive. The following brief articles about the retirement plan provisions of the CARES Act may be of interest:

Waiver of Certain Retirement Plan Mandatory Distributions

Coronavirus-Related Plan Loan Relief

COVID-19 Distributions from Retirement Plans

CARES Act Relief for Certain Defined Benefit Plan Funding Requirements