The IRS recently issued Notice 2020-50 and Notice 2020-51 clarifying and expanding some aspects of the Coronavirus, Aid, Relief and Economic Security (CARES) Act. As always, this update is quick and dirty and meant to give clients and advisors a general overview. If you want to take a deeper dive, some of the best explanations […]
Update
DOL Publishes Final Rule on Electronic Disclosures
The Department of Labor (“DOL”) recently issued a final rule regarding electronic disclosure of retirement plan notices and documents. This update is meant as a quick summary of the rule, not a step-by-step guide to compliance. For more details, please see the rule itself or an as-usual excellent article from the Ferenczy Benefits Law Center. […]
CARES Act review
Review of the CARES Act – Pension provisions On March 27, President Trump signed the Coronavirus, Aid, Relief and Economic Security (CARES) Act which extends broad relief on many fronts. This update covers provisions relating to retirement plans. It is quick and dirty and meant to give clients and advisors a general overview. Please contact […]
New Hardship Rules
The Bipartisan Budget Act of 2018 (“the Act”) changed some hardship distribution rules – generally simplifying things, but we know that any change brings at least temporary complications. The IRS has issued final regulations, so we are ready to start taking action to implement the new rules (or not, as the case may be). Plan […]