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 […]
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, […]