Co-founding partner Carol Buckmann has been tapped by PLANSPONSOR magazine to author a weekly column titled, COVID-19 Compliance Corner, which debuted on Monday, May 11, 2020. The first column, “Who Qualifies for Coronavirus-Related Distributions?” which quickly became one of the most well-read articles on the PLANSPONSOR website, explains who qualifies for coronavirus-related retirement plan distributions, as prescribed in the Coronavirus Aid, Relief and Economic Security (CARES) Act. The article outlines:
Who is eligible for these distributions
How these distributions are taxed
What the alternatives are to CARES Act-related plan distributions.
The second article, “New Loan Provisions Under the CARES Act,” which was published on Monday, May 18, 2020, outlines new loan provisions under the CARES Act and explains:
What the basic plan loan rules are
How the CARES Act amends these rules
Who qualifies for the loans
What special relief is provided for the loans under the CARES Act
Whether plan sponsors are required to adopt these new plan rules
How the CARES Act-related changes should be implemented.
We encourage you to visit the PLANSPONSOR website every Monday to read the latest edition of the COVID-19 Compliance Corner and visit Insights for new developments related to COVID-19 and other firm news.