COVID-19 Resources

COVID-19 Resources

Understanding the CARES Act: Contribution Deadline & Defined Benefit Funding Relief

Contribution Deadline and Defined Benefit Funding Relief. Some contribution deadlines have been extended and certain defined benefit (DB) plans are eligible for funding relief.

A Message to Our Friends and Partners

On behalf of all of us at FuturePlan, we extend our wishes for a full recovery to those directly affected by COVID-19, and our deepest sympathies to those who have lost loved ones. Our heartfelt thanks go out to the medical professionals, first responders, and essential workers who are saving lives and sustaining our communities.

Message from David Musto, CEO of Ascensus

It’s safe to say that the environment in which we’re living and coping today is unlike any most of us have seen in our lifetimes. Worry for our own health and that of our loved ones, challenges to the operation of virtually every type of business, social distancing, travel restrictions, and startling global financial market volatility sometimes feel beyond our ability to process.

Pandemic Preparedness and Response Statement

As a business division of Ascensus, FuturePlan has maintained a Pandemic Preparedness plan since day one. It is one component of our larger Business Continuity planning process.

FuturePlan Supports Small Businesses

Small businesses are the backbone of the American economy. With these businesses and their workers bearing the brunt of the hardship associated with the coronavirus (COVID-19) pandemic, it’s incumbent on the financial services industry to do whatever we can to support them. Many believe that this support will come mainly through federal relief, and that smart legislation—providing financial stimulus and other appropriate relief—will help right the ship.

Our COVID-19 Response

At Ascensus, we consider the safety and wellbeing of our clients and associates to be paramount. Our service and leadership teams have been closely monitoring the global spread of COVID-19 and have been making proactive adjustments to our operations in order to ensure the continued service and expertise you count on.

Regulatory Updates

Legislation Introduced to Aid Struggling Defined Benefit Plans

House Ways and Means Committee Chairman Richard Neal (D-MA) has introduced in the initial days of the 117th Congress the Emergency Pension Plan Relief Act (EPPRA) of 2021. 

New Administration to Review ESG Investments Guidance

The new administration will review retirement plan ESG guidance for possible revision or withdrawal. 

Compatibility of Pre-Approved Plan Documents and PEPs

The IRS has revealed that pre-approved qualified retirement plan documents may be used to establish arrangements known as pooled employer plans, or PEPs. 

New guidance for Traditional and QACA Safe Harbor Plans

The SECURE Act makes it easier for employers to adopt ADP/ACP safe harbor plan provisions. These plans have proven popular with many employers. 

IRS Posts Updated DB Plan Yield Curves and Segment Rates

The IRS has issued updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations. 

DOL Guidance for Plans Facing Missing Participant Issues

The EBSA has released a three-part guidance package for retirement plan fiduciaries dealing with missing or unresponsive participants. 

Opinion Letter on ADEA and Individual Coverage HRAs

Opinion Letter Addresses Interaction Between ADEA and Individual Coverage HRAs  

Compensation Disclosure for Employer-Sponsored Health Plans

CAA Requires Disclosure of Compensation Paid by Employer-Sponsored Health Plans  

Proposed Regs for Disaster-Related Deadline Postponements

IRS Proposes Regulations for Automatic Deadline Postponements for Federally Declared Disasters  

PPP Reopens the Week of January 11 2021

Paycheck Protection Program reopens the week of January 11, 2021.