Carol Buckmann, co-founding partner of Cohen & Buckmann, who is actively writing about the flurry of legislation that is passing as a result of the COVID-19 pandemic, was recently quoted in the Society of Human Resources Management article, “How the CARES Act Changes Health, Retirement and Student Loan Benefits.” In the article, Carol explains that “even 401(k) plans that do not currently authorize participant loans or in-service distributions will be able to use the benefits presented in the CARES Act.” She notes that the options are available now, without the need to immediately adopt authorizing plan amendments.
More information about this topic can be found in Carol’s recent Insights article, “CARES Act Includes New Relief for 401(k) Plans and IRAs.” Other COVID-19-related articles can be found on the Cohen & Buckmann website.