On April 28, 2020, the Department of Labor (DOL) and the Internal Revenue Service (IRS) issued deadline relief to help employee benefit plans, plan participants and plan service providers impacted by the COVID-19 outbreak. The deadlines are extended by disregarding the period from March 1, 2020, un…Continued
Pension plan sponsors and their Trustees are working to adapt to the emerging landscape being sculpted by local meeting restrictions, a depressed economy and financial market disruptions. In addition, they are grappling with how COVID-19 related illnesses and deaths impact their pension programs.O…Continued
The Internal Revenue Service requires that spousal consent to the waiver of a qualified joint and survivor annuity in a defined benefit plan must be signed in the “physical presence” of a plan representative or notary. Some plan administrators go further and require that other retirement plan elec…Continued
In response to the COVID-19 pandemic, the Centers for Disease Control and Prevention and the World Health Organization have recommended that all individuals who may have been exposed to the disease self-quarantine at home for 14 days. In addition, public health officials are recommending that healt…Continued
The Coronavirus pandemic has had far-reaching impact across the benefits ecosystem. For the broker and consultant community, it has certainly changed how they're supporting their clients.Listen as Geoff Adams, President of Bolton Health, discusses how the pandemic is impacting both the private…Continued
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law Friday, March 27th. CARES is the third phase of more than $2 trillion in economic stimulus legislation and includes several provisions relating to employee benefit plans.Defined Benefit ReliefDue to low interest rate…Continued
