We are getting reports from a number of our members that employers—struggling with the impact of business closings, a lack of customers, or other economic impacts due to the pandemic—are looking for some help.
Many are looking to suspend contributions, or at least defer them—some are reportedly contemplating terminating their 401(k) plan as a way to free up cash.
As an alternative to termination, we've been discussing legislation that would permit employers to halt their contributions for the remainder of the year.
We need your help to assess the potential impact.
Please take a couple of minutes and respond to this brief survey at https://www.research.net/r/coronahit.
