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ICYMI - Monday, Mar 23, 2020
Coronavirus Relief Update
With concerns about the impact of the coronavirus and its impact on retirement plans increasing, the American Retirement Association has been actively advocating for relief for plan sponsors and participants impacted by the pandemic. Read more>
National Conference Update
In response to concerns about travel and restrictions on large gatherings, we have made the difficult decision to cancel the 2020 PSCA National Conference. We thank you for your understanding; and we look forward to seeing you in 2021! Stay tuned for information about an exciting new series of webcasts!
Recent News you May Have Missed
Do Course: Corona Conscious
Many, perhaps most, participants and plan sponsors will embrace the counsel to not only avoid taking action, but to avoid paying any attention to the short-term volatility of what is, by its very nature, a long-term investment. That said, some will undoubtedly want to do something. And for those, I offer the following alternatives.
Cure Lure: Considering a Loan Cure Period to Avoid Participant Loan Defaults
Allowing a cure period for plan loans may help preserve participants’ retirement savings and meet plan sponsors’ fiduciary responsibilities.
Duty ‘Bound’: 401k Plan Sponsors Fiduciary Duty in Light of Coronavirus Fear
Now is the time for 401k plan sponsors to seize their fiduciary mantle and provide the guidance and tools plan participants need to dodge emotional decisions that could ruin their chance for a comfortable retirement.
Four, Warned?: 4 Things to Do Instead of Panicking About Your 401(k)
There are a few things you should be doing instead to salvage your savings and make the best of the situation.
Access Points: 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.