You may recall that the CARES Act says required minimum distributions (RMDs) don’t have to be taken in 2020 from IRAs and many employer retirement plans. This seems like a pretty simple concept, but it’s not. There were a number of unanswered questio...
The CARES Act, signed into law on March 27, 2020, allows employees affected by COVID-19 greater access to money set aside for them in employer retirement plans. As often happens, many details of this new law were not immediately clear. We found our...
This article is part of our continuing series on the coronavirus and its effects on qualified retirement plans. Recently, we wrote about ways employees affected by the coronavirus could access money from their retirement plans. Today, we are discus...
Options for Accessing Retirement Plan Money Amid COVID-19 Outbreak
Amid the coronavirus (COVID-19) scare, we are getting reports that our clients are imposing layoffs, furloughs, and temporary shutdowns. It makes sense; if people aren’t coming to your business, there’s no work for the employees to do and no money t...