The Internal Revenue Service (“IRS”) issued Notice 2020-51 which provides much needed guidance concerning the waiver of 2020 required minimum distributions (“RMDs”) under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”).  The Notice also includes transition relief for plan administrators regarding the change to the required beginning date for RMDs under the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”).

On May 21, 2020, the U.S. Department of Labor (“DOL”) announced a new safe harbor rule that will allow plan sponsors, by default, to post retirement plan disclosures online or deliver them to participants by email in satisfaction of their duties under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

Austin’s Jennifer Rangel and Washington, D.C.’s Aaron Igdalsky co-authored an article for Employee Benefit Plan Review examining the rapid evolution of regulations that apply to telemedicine during the COVID-19 pandemic.

As we discussed in our recent article, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) temporarily increases the permissible loan amount for loans taken by qualified individuals between March 27, 2020 and...

The IRS addressed Frequently Asked Questions (“FAQs”) this week on the new coronavirus-‎related distribution (“CRD”) available from eligible retirement plans added by the Coronavirus ‎Aid, Relief, and Economic Security Act (the “CARES Act”). ‎

This article provides practical guidance regarding how plan sponsors and fiduciaries ‎should address delays in remitting participant salary deferral contributions and plan ‎loan payments to their defined contribution plans resulting from the coronavirus (also ‎known as ‎COVID-19).‎