Blog

The House of Representatives passed the Coronavirus, Aid, Relief and Economic Security (CARES) Act on March 27, 2020, two days after the Senate passed it in a unanimous vote. It is expected to be signed into law by the President momentarily. The $2 trillion dollar stimulus bill has far-reaching implications, including many items that directly...Read More

Workers who have been terminated or furloughed without pay during the COVID-19 crisis may have difficulty making ends meet. The most apparent source of relief for many is their 401(k) account. The government is helping people access their 401(k) accounts by providing legislation to make hardships and loans more accessible during this economic downturn. However,...Read More

With the economic downturn due to the COVID-19 epidemic, many 401(k) plan sponsors are considering suspending their safe harbor arrangements mid-year. But, is this the best course of action? Here are some things to consider. Is the plan top heavy? IRC Sec. 416 provides for certain requirements to be followed if a plan is “top...Read More

Effective January 1, 2020, the rules for required minimum distributions (RMDs) and beneficiary payouts have significant changes. Some good; some bad. The changes impact the requirements of both employer retirement plans and IRAs to distribute assets from the plan upon a certain age and upon death. RMD Rules Until now, a participant in a retirement...Read More

The “Setting Every Community Up for Retirement Enhancement” Act (SECURE Act) is the largest single pension reform we’ve had in ten years. There are many provisions that touch various parts of the tax code and impact employers and plan sponsors. In this article, we break down the SECURE Act based on provisions that are important...Read More