Extra Take-up Comments

I have only had one person reach out at this point.

Most of the participants and plan sponsors see this as a last resort. We have been actively reminded plan sponsors and participants that with expanded unemployment, the PPP (most of our clients are under 500 ee’s), and the stimulus checks most participants do not need cash immediately. The remainder of the year will depend on how fast the economy recovers.

I’m expecting enormous dispersion, between distributions/loans that are effectively unchanged and distributions/loans that are many times 2019 levels. My “at least 25% increase” answer is an overall average.

Our area in the Midwest has not had a large number of coronavirus cases so there is reason to be hopeful that the impact will be minimal.

So far little activity, much depends on how long this goes on.

Though there is obviously demand for the new features, I think that, overall, there will not be a significant spike in loans/withdrawals, since getting money out of your retirement plan is still not the simplest of transactions...

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