Coronavirus Relief Update

With concerns about the impact of the coronavirus and its impact on retirement plans increasing, the American Retirement Association has been active advocating for relief for plan sponsors and participants impacted by the pandemic.

Senate Bill Expands Retirement Plan Access for Coronavirus Impact(s)
The CARES Act includes provisions advocated by the American Retirement Association that loosen retirement plan hardship and loan rules to free up funds for individuals impacted by the Coronavirus pandemic.

ARA Crafts Proposal to Provide Retirement Plan Funding Relief for Small Businesses
The American Retirement Association has reached out to members of Congress with proposals to help alleviate cash flow issues for small businesses with retirement plans.

ARA Highlights Need to Extend 403(b) Remedial Amendment Deadline
The American Retirement Association (ARA) is pressing the IRS to extend the remedial amendment period for 403(b) plans by one year.

ARA Presses for Retirement Plan Relief in Coronavirus Stimulus Bill
The American Retirement Association has been working with key lawmakers to include legislation that would provide tax relief to individuals and employers that suffer a sustained economic loss from the COVID-19 outbreak.

ARA Requests Plan Filing Relief Due to Coronavirus Impact
Considering the ongoing and future business impacts of the coronavirus, the American Retirement Association asked the Treasury and DOL for relief from certain retirement plan filing deadlines.