A surprising number of employers have opted not to offer the COVID-related distribution (CRD) relief under the CARES Act. But the employer’s decision is not the final word on this matter,... Read More
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Coronavirus
BY Bob Toth | 7/8/2020
BY Ted Godbout | 7/6/2020
When the CARES Act was enacted in March, numerous questions poured in from our members, but answers to some of the questions required additional clarity from the IRS. We now have those answers and... Read More
BY Ted Godbout | 7/1/2020
New data from Ascensus reveals how employers and 401(k) plan participants changed their savings behaviors over the course of the COVID-19 outbreak.
Serving as an early baseline for plan... Read More
BY John Iekel | 6/30/2020
Among the effects of the sudden economic downturn that the pandemic sparked are misgivings about retirement planning and financial prospects for retirement. But a recent report suggests that that... Read More
BY Ted Godbout | 6/29/2020
Considering the financial impact of COVID-19, many Americans are reevaluating their plans for retirement and are interested in learning more about how to use income sources to maximize retirement... Read More
BY NAPA Net Staff | 6/25/2020
During a period of unprecedented economic turmoil and uncertainty, a new survey by the Plan Sponsor Council of America offers insights on the response of plan sponsors and participants to the new... Read More
BY Ted Godbout | 6/23/2020
The COVID-19 pandemic has shined a spotlight on the vital role financial wellness programs can play in helping 401(k) plan participants navigate through unchartered territory, according to a recent... Read More
BY Ted Godbout | 6/23/2020
For those who want to take advantage of the waiver provisions under the CARES Act, new guidance from the IRS extends the rollback period for required minimum distributions already taken in 2020.... Read More
BY Ted Godbout | 6/22/2020
The IRS has extended relief to plan participants whose spouses are laid off and who take Coronavirus-related distributions or loans from their retirement accounts, as well as provided new safe... Read More
BY Ted Godbout | 6/15/2020
The U.S. Small Business Administration, in consultation with the Treasury Department, has issued new guidance providing important clarifications for those taking advantage of the Paycheck Protection... Read More
BY Nevin E. Adams, JD | 6/10/2020
A recent survey of members of ASPPA—a sister organization of NAPA—provides a read on what TPAs are seeing in terms of adoption and take-up rates for the new COVID-19 participant options.
The... Read More
BY Nevin E. Adams, JD | 6/9/2020
Back when I was in school (OK, so it was way back), there were these little red fire alarm boxes strategically placed throughout the building. Their purpose was clearly indicated in big... Read More
BY John Iekel | 6/5/2020
A recession creates an array of challenges for an employer, including its effects on a retirement plan. A May 28 Plan Sponsor Council of America (PSCA) webinar examined what plan sponsors and... Read More
BY NAPA Net Staff | 6/4/2020
UPDATED JUNE 5 AT 1:00 P.M.
The U.S. Senate has passed legislation that provides additional flexibility for small businesses under the Paycheck Protection Program. The measure was approved by... Read More
BY Ted Godbout | 6/3/2020
Americans’ priorities have shifted in many ways during the COVID-19 pandemic, but maintaining a long-term view with investments has held up, according to new survey results.
Findings from... Read More
BY NAPA Net Staff | 6/3/2020
The Internal Revenue Service has provided temporary administrative relief to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility... Read More
BY Ted Godbout | 6/1/2020
With factors ranging from staff safety, legal and liability concerns, to human resource policies, local government directives and logistical issues around maintaining social distancing within the... Read More
BY John Iekel | 5/29/2020
While there's still no Form 5500 filing relief, Notice 2020-35, issued May 28, provides additional administrative relief regarding deadlines applicable to employment taxes, employee benefits and... Read More
BY John Iekel | 5/27/2020
Unfortunately, the effects of the COVID-19 pandemic include layoffs. A recent post on the ForUsAll blog discusses how layoffs will affect 401(k) plan audits.
In the post, author... Read More
BY Ted Godbout | 5/26/2020
The legislation would significantly expand the existing credit to cover the wages and benefits—including 401(k) contributions—of employees of businesses affected by COVID-19 until the pandemic... Read More
BY Ted Godbout | 5/25/2020
As the Coronavirus pandemic continues to wreak havoc on the economy, a new study finds that many Americans are dipping into their retirement accounts to pay for essentials.
The survey by... Read More
BY Pete Swisher | 5/22/2020
Monday is a special day. For one thing, it is the eighth anniversary of the Department of Labor’s publishing of advisory opinions 2012-03A and 2012-04A, governing open Multiple Employer Plans (... Read More
BY Ted Godbout | 5/21/2020
The House of Representatives plans to vote next week on stand-alone legislation that would ease the rules for businesses taking advantage of the Paycheck Protection Program.
While still... Read More
BY Ted Godbout | 5/20/2020
While the long-term implications of the Coronavirus pandemic on retirement security have yet to be fully realized, some cracks are starting to show in the retirement confidence of American... Read More
BY Nevin E. Adams, JD | 5/18/2020
As the Memorial Day holiday (and, as tradition holds, summer vacation, generally) approaches, we’ve traditionally asked readers to weigh in on the best song(s) for—or about retirement. This year is a... Read More
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