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Your Business’s Questions on Covid Retirement Changes Answered (1)

Sept. 11, 2020, 8:45 AMUpdated: Sept. 17, 2020, 7:53 PM

This is the second installment in an ongoing series on how to navigate various virus aid programs. In this segment we cover the CARES Act’s changes to 401(k) plans, including the most recent Practitioner Insights.

The next installments in this series will cover how to minimize the risks of PPP and virus leave litigation. The first installment in this series covered Paycheck Protection Program loan forgiveness.

One of the major relief provisions in the CARES Act (Public Law 116-136) allowed individuals to take out up to $100,000 from 401(k) accounts without facing penalties this year. Typically, there’s a ...