In this podcast episode of Money Talks, Hugh Meyer, of Charlesworth & Rugg, Inc., talks with Christine Roberts regarding how the CARES Act can impact Qualified Retirement Plans and some responsibilities of plan sponsors. Christine provides a detailed update to IRS Notices 2020-50 and 2020-51, which details the regulations involving COVID-19 related distributions from retirement plans and IRA’s.
In addition, Christine discusses the deadline of August 31,2020, with regard to people who took required mandatory distributions before the onset of COVID-19. They also talk about the updates on employee sponsored plans related to COVID-19 distributions, and the law surrounding how record- keepers must account for these distributions. Lastly, Christine discusses some recent ERISA compliance issues, i.e. employee salary deferrals and employer matching contributions.
View full podcast on YouTube here.
Money Talks Episode 22: 08/20/2020
