CARES Act Provisions for Retirement Plan Sponsors and Participants This article reviews some of the leading provisions of the CARES Act as it relates to pension and retirement plans. Plan Participant Early Withdrawals from Retirement Accounts Generally, the Internal Revenue Code (IRC) imposes a 10% penalty on early withdrawals from retirement accounts. Early withdrawals are […]
Boost Your COVID – 19 Retirement Planning With These Tips Bear in mind that retirement savings are for the long run. The Coronavirus (COVID-19) is having a widespread impact across all elements of financial life, including retirement plans. The current global stock exchange turbulence, as a result of COVID-19, will undoubtedly be concerning for people […]
Retirement from a job or service acquires a new COVID-19 significance if you had retired at the end of last year, like this writer. Superannuation or retirement-at-60 normally signifies that you had had enough toil and turmoil in offices and now you deserve to relax at home which basically translates to stay home. Normally you […]
COVID-19 Issues for ERISA Retirement Plan Sponsors Economic disruption in the first two quarters of 2020, combined with future business uncertainty about the COVID-19 pandemic, is prompting Employee Retirement Income Security Act (ERISA) retirement plan sponsors to review their pension plan management options. Industry sectors that have been particularly hard-hit by COVID include retail, hospitality, […]