Blog

Robert H. Gorelick, APA and CEO of Benefit Equity Inc. explains frequently asked questions about taking participant loans or distributions under CARES Act. Learn more about whether or not you qualify for a Coronavirus Relief Distribution (CRD) or participant loan.

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Recently, Congress passed the most extensive retirement plan legislation since the Pension Protection Act of 2006 and it is called the SECURE Act.  The Setting Each Community Up for Retirement Enhancement Act (SECURE) was passed on December 19, 2019, however some provisions are effective for 2020 and others will be effective in 2021. The article highlights law changes that affect most of Benefit Equity, Inc. (BEI)  clients.

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On March 27^th, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), was approved by Congress, to afford massive relief for those suffering as a result of the Coronavirus pandemic.

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We wanted to reach out to you in this time of uncertainty and all of us at BEI hope you and your family are well, during this unprecedented time in our nation and world. We understand that the demands of running your business and taking care of your employees are first and foremost on your mind.  And that your defined benefit plan or cash balance plan may not be on your mind at this time, but we are just looking ahead and want to bring you this information.

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The Internal Revenue Service (IRS) has announced that several contribution limits in qualified retirement plans will increase in 2020. This guidance provides cost of living adjustments affecting dollar limitations for 401(k), Profit Sharing and Defined Benefit pension plans and other retirement-related items for tax year 2020.

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