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In the third and final of a series, our employment and benefits teams take an in depth look at the provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”) affecting employment, compensation, payroll taxes and paid leave. For a description of changes affecting health and welfare plans, see here, and for a description of changes affecting retirement plans, see here.

Continue Reading CARES ACT – Employment, Compensation, Payroll Tax and Paid Leave Provisions

In the second of a series, our benefits team takes an in depth look at the provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”) affecting retirement plans. For a description of changes affecting health and welfare plans, see our prior post.

Retirement Plans

Tax-Favored Coronavirus-Related Distributions

The CARES Act introduces a new category of withdrawals, referred to as “coronavirus-related distributions,” under retirement plans. These withdrawals are eligible for beneficial tax treatment that is not available to withdrawals from retirement plans that do not satisfy the requirements of a coronavirus-related distribution.


Continue Reading CARES ACT – Changes for Retirement Plans