Financial Relief Amid COVID-19
By Newfront Retirement Services Team | Published April 20, 2020
In response to the economic impact of the COVID-19 pandemic, Congress signed into law the Coronavirus, Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. We invite you to view our summary of the CARES Act and the impact to retirement plans.
Included in the CARES Act is a new Coronavirus Related Distribution (CRD) option for eligible participants, increased flexibility around loans, and relaxed provisions around Required Minimum Distributions for 2020.
To ensure your plan has the new CARES Act provisions available to participants, consult your recordkeeper directly to discuss the administrative steps to opt-in, if necessary.
Newfront Retirement Services Team
Drawing on their extensive investment and ERISA experience, the Newfront Retirement Services Team puts employees on the right track for success. They believe retirement readiness means achieving total financial wellness.