CARES Act Becomes Law

CARES Act Becomes Law

Employers across the country are facing closures of offices and businesses, resulting in everything from required work at home arrangements to employee lay-offs and furloughs. This has raised important questions around retirement plan administration, including the...
COVID-19 Response

COVID-19 Response

We recently enabled a remote workplace environment for the majority of our employees. For those employees that are still in office locations, we’ve instituted social distancing policies that are consistent with recommendations from federal, state, and local health...
Cycle 3 Restatements are Coming Soon!

Cycle 3 Restatements are Coming Soon!

Such plans are subject to six-year restatement cycles. The next restatement cycle, referred to as the Cycle 3 Restatement period, will open later this year. A restatement is a complete re-writing of your plan document to incorporate changes in laws and regulations...
SECURE Act is Signed into Law

SECURE Act is Signed into Law

The bill was tucked into the 1,700 page, $1.4 trillion Further Consolidated Appropriations Act, 2020 (H.R. 1865, as amended) to fund half the government for the remainder of fiscal year 2020, which began Oct. 1. The House of Representatives approved H.R. 1865 on Dec....
The Real Cost of Loans

The Real Cost of Loans

Ashley Patrick and her husband, both in their late twenties, took out a $25,000 loan from his 401(k) account to pay for a home renovation. Then he lost his job, which triggered mandatory full repayment within 90 days. They didn’t have the cash to pay off the loan, so...