covid-19

Pandemic Relief Package Includes Benefit Provisions

Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits. 

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

Health and Welfare

SECURE Act

IRS Updates FAQs on Tax Credits for COVID-Related Leave

On January 28, 2021, the IRS posted updated FAQs on COVID-19-related employer tax credits for paid leave that is provided by certain businesses.

FuturePlan ERISA Team

COVID-19

Health and Welfare

PPP Reopens the Week of January 11 2021

Paycheck Protection Program reopens the week of January 11, 2021. 

FuturePlan ERISA Team

COVID-19

Defined Contribution Plan

IRA

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.   

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

IRS

DOL Updates Q&As for Pandemic-Related Paid Leave

The DOL has issued an update to its Q & A guidance on paid employee leave under provisions of FFCRA.

FuturePlan ERISA Team

COVID-19

DOL

Health and Welfare

Spending Bill Contains Coronavirus Relief

On December 21, 2020, Congress passed additional measures to provide economic relief from the effects of the coronavirus pandemic. On December 27, 2020, it was signed into law. 

FuturePlan ERISA Team

Washington Pulse

Legislative updates

COVID-19

COVID Relief and Government Funding Legislation Delayed

Legislation for a new round of economic relief for victims of the COVID-19 pandemic and extend funding for federal government agencies remains in pending status.

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

Health and Welfare

Legislative updates

Extended Due Date for Single-Employer DB Contributions

The IRS has clarified that contributions to single-employer DB plans due January 1, 2021, under the CARES Act are considered timely if they are made no later than January 4, 2021.

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

IRS

Treasury and SBA Announce Simpler PPP Loan Forgiveness Form

Treasury and SBA have announced a “simpler” version of the form used by recipients of Paycheck Protection Program (PPP) business loans of $50,000 or less to request loan forgiveness.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

COVID-19

House Passes Revised Pandemic Relief Bill, Disagreements Remain

The House of Representatives has passed a revised version of the HEROES Act estimated at $2.2 trillion to provide pandemic relief.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

COVID-19

SECURE Act

Health and Welfare

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