covid-19

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

Legislation Would Allow Delay of 2020 Retirement Contributions

S. 4539 has been introduced with COVID-19 liability protection for businesses and healthcare providers, a tax credit for employer COVID-19 testing, and several retirement provisions.

FuturePlan ERISA Team

COVID-19

CRD

Legislative updates

IRS Extends Due Date for Certain DB Plan Excise Taxes

The IRS has postponed the due date for reporting and paying an excise tax that results from a delay in making certain minimum required contributions to single-employer DB pension plans.

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

DOL Revises Emergency Leave Rule Following Court Decision

The DOL has issued a revision and clarification to guidance that implemented emergency paid sick leave and expanded family and medical leave under the Emergency Leave Rule.

FuturePlan ERISA Team

COVID-19

DOL

Health and Welfare

Senate Vote Fails to Advance Next COVID-19 Aid Package

The Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S.178), did not receive the votes needed to proceed to a final vote on the package.

FuturePlan ERISA Team

529 account

COVID-19

Defined Contribution Plan

Legislative updates

SECURE Act

Senate Vote Expected on Next Coronavirus Aid Package

Senate GOP leadership expected to vote on the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S. 178).

FuturePlan ERISA Team

529 account

COVID-19

Defined Contribution Plan

Legislative updates

SECURE Act

IRS Guidance for Some DB Plans, Distribution Notices

The IRS has released two Notices with more guidance for certain provisions under the CARES and SECURE Acts.

FuturePlan ERISA Team

COVID-19

Defined Benefit Plan

Defined Contribution Plan

IRS Guidance

SECURE Act

Senate Bill Introduced to Provide COBRA Subsidization

Senators introduce the Continuous Health Coverage for Workers Act to provide premium assistance for COBRA continuation coverage for individuals whose jobs have been impacted by COVID-19.

FuturePlan ERISA Team

COBRA

HEALS

COVID-19

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