Contribution Deadline and Defined Benefit Funding Relief. Some contribution deadlines have been extended and certain defined benefit (DB) plans are eligible for funding relief.
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.
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.
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.
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.
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.
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.
The new administration will review retirement plan ESG guidance for possible revision or withdrawal.
The IRS has revealed that pre-approved qualified retirement plan documents may be used to establish arrangements known as pooled employer plans, or PEPs.
The SECURE Act makes it easier for employers to adopt ADP/ACP safe harbor plan provisions. These plans have proven popular with many employers.
The IRS has issued updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.
The EBSA has released a three-part guidance package for retirement plan fiduciaries dealing with missing or unresponsive participants.
Opinion Letter Addresses Interaction Between ADEA and Individual Coverage HRAs
CAA Requires Disclosure of Compensation Paid by Employer-Sponsored Health Plans
IRS Proposes Regulations for Automatic Deadline Postponements for Federally Declared Disasters
Paycheck Protection Program reopens the week of January 11, 2021.