The Coronavirus Aid, Relief, and Economic Security Act permits a “qualified individual” to certify to the employer that they qualify to elect a coronavirus-related distribution (CRD). A plan sponsor may wish to consider offering CRDs during 2020 from a single employer defined benefit plan as well as, or in addition to, a CRD from its defined contribution plan.
Benefits Alert: Coronavirus distributions consideration for DB Plans under the CARES Act
29 April 2020
Benefits Alert: Coronavirus distributions consideration for DB Plans under the CARES Act