Pittsburg, PA

Tucker Arensberg, P.C.
Tucker Arensberg, P.C.
One PPG Place, Suite 1500
Pittsburgh, PA 15222
(412) 566-1212
(412) 594-5619
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Tucker Arensberg, P.C.
Tucker Arensberg, P.C.
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Lemoyne, PA 17043
(717) 234-4121
(717) 232-6802
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Tucker Arensberg, P.C.
Tucker Arensberg, P.C.
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New York, NY 10171
(212) 739-7910
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Attorneys in Pittsburgh, Harrisburg, New York City

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  • COVID 19: Answers to Business Challenges
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Are Many Employers Adopting CARES Act Changes for Retirement Plans?

Articles, COVID 19: Answers to Business Challenges August 11, 2020

Edward A. Wodarczyk, Esq., ewodarczyk@tuckerlaw.com, (412) 594-3920

The CARES Act allows employers to adopt temporary rule changes for their retirement plans for in-service withdrawals and participant loans for employees adversely affected by the COVID-19 pandemic. For more details about these changes, see our March 2020 newsletter.  How many employers are adopting these changes for their retirement plans?  According to one survey, 71% of the surveyed employers are permitting their employees to suspend their outstanding plan loans, 70% adopted the relaxed rules for in-service withdrawals while only 47% adopted the increased loan limits.  For more details, see survey results.

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Are Many Employers Adopting CARES Act Changes for Retirement Plans?

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