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

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. 

PBGC Final Rule for Computing Union DB Plan Withdrawal Liability

The PBGC has issued final regulations on the determination of withdrawal liability when a participating employer withdraws from a multiemployer (union) DB pension plan. 

Deadline Relief for Mississippi Hurricane Zeta Victims

The IRS has announced the postponement of certain tax-related deadlines for Mississippi victims of Hurricane Zeta. 

Final Regulations Published on Independent Contractor Status

Final regulations, entitled Independent Contractor Status Under the Fair Labor Standards Act, have been published in the Federal Register. 

Final Regulations on Offset Retirement Plan Loan Rollovers

IRS final regulations on offset retirement plan loan rollovers have been published in the Federal Register. 

IRS Addresses Tax Benefits Related to PPP Loans

The IRS has issued Revenue Ruling 2021-02 guidance related to tax benefits associated with PPP loans.