CARES Act Update at TPSU Virtual Town Hall Helps Plan Sponsors
CARES Act updates have arrived on the heels of the recently introduced SECURE Act. The passing of the Stimulus Bill is designed to help all Americans; however, plan sponsors seem to have a heightened interest in how the CARES Act can help workers to get back on their feet. The CARES Act was the main topic of the April 3, 2020 TPSU Virtual Town Hall Meeting. The TPSU Virtual Town Hall Meetings are connecting with an average weekly audience of approximately 600 plan fiduciaries, Human Resource executives and Financial CFOs and Controllers. (The next TPSU Virtual Town Hall Meeting is scheduled for Friday at April 17, 2020 at 1:00PM EDT.)
This past Friday, Ms. Kimberly Prescott of Prescott HR described the questions she has been fielding over the last 3 weeks from clients throughout the country. Next, Joe Brummel, of Strategic Retirement Partners discussed the process he has used when communicating with plan sponsors and fiduciaries during the Crisis. Mr. John Doyle was able to provide insight on what Capital Group / American Funds has been hearing from their clients over the last few weeks.
Click here for a PDF that contains useful links that were referenced during the discussion.
The TPSU Town Hall Meeting on Friday, April 17 will address:
- Provisions of The CARE Act (which provides relief to American workers);
- What do Plan sponsors need to be aware of if their Plan does not provide for Loans or Withdrawals;
- The overall impact of the Pandemic; and
- How workers and employees are making-it-work with their remote workforce; and
Tom Foster of The Retirement Advisor University (TRAU), will serve as the Moderator of the next Virtual Town Hall Meeting.
To see the full replay of last week’s Virtual Town Hall Meeting, click on the image below:
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