Questions regarding the administration of the CARES Act have been pouring in—and we’ve got answers!
As part of a series of recent webcasts, we have received a large number of questions from our members regarding key operational and administrative aspects of the Coronavirus Aid, Relief and Economic Security (CARES) Act.
As we continue to work with regulators to achieve clarity and receive guidance on this legislation, we wanted to respond to your questions, and provide you with our most current understanding. As always, we appreciate your insight and continued support of the American Retirement Association, and its member associations—ASPPA, ASEA, NTSA, NAPA and PSCA—as we continue to work for America’s retirement.
We have organized the questions into several broad categories:
- General Questions
- COVID-19 Distributions
- COVID-19 Loans
- RMD Waivers
- Safe Harbor & SIMPLE Plans
- Government Plans
- Defined Benefit & Cash Balance Plans
- Miscellaneous
You can find links to these at https://www.asppa-net.org/industry-intel/hot-topics
We hope that you find this information to be valuable, and appreciate your continued involvement and engagement as we work to provide additional support and relief for plan sponsors and impacted participants at this critical time.
Remember that the ERISA Outline Book is an invaluable technical resource—you can find more information and practical answers there on both the SECURE and CARES Acts. Reserve your copy today at https://bit.ly/CARESEOB
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