Compliance Alerts

Insights to keep you informed on all things compliance.

COVID-19 and Employee Benefits: The Pandemic's Effect on Your Plans

COVID-19 has raised challenging issues for employers. This ABD resource is provided to help you address compliance issues and understand the impact on benefits plans, FFCRA Mandates, health plan eligibility, active coverage, subsidy options for employers, and more. This document will be updated as new information is released. Please check back regularly for updates.
Last Update: May 20, 2020

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COVID-19 Layoffs and Furloughs

Layoffs and furloughs can be challenging to navigate and can have a direct impact on your employer-sponsored retirement plan, e.g. your company 401(k) or 403(b) plan. We’re here to help outline the potential impacts, considerations, and support you through this challenging period.

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Furloughs and Layoffs During the Economic Impact of COVID-19

Due to the economic impact of COVID-19 companies have implemented, or are considering implementing, measures to ensure the financial liability of their organization. The current situation has impacted businesses, and as a result many are exploring options to help their employees during this uncertain time.

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Financial Relief Amid COVID-19

In response to the economic impact of the COVID-19 pandemic, Congress signed into law the Coronavirus, Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. We invite you to view our summary of the CARES Act and the impact to retirement plans.

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How the CARES Act Affects 401(k) Plans

The Coronavirus, Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27th, 2020. Our Retirement Services Relief Guide breakdowns how the CARES Act impacts retirement plans and your participants.

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401(k) Plan Sponsor Guidance

Learn how COVID-19 impacts the role of the Plan Sponsor through ABD’s Retirement Services reference guide. Plan Sponsors should consider the following as we navigate these unprecedented times.

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How the CARES Act Affects Employee Benefits

The Senate unanimously passed the massive Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The House is expected to pass the CARES Act as soon as Friday, which will send the bill to the White House for President Trump’s swift signature.

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ABD COVID-19 and Employee Benefits Guide

Our ABD Compliance Team created a guide with information on the impact of COVID-19 and its effect on employee benefit plans, FFCRA Mandates, health plan eligibility, active coverage, subsidies options for employers, and more. This guide aligns with the on-demand webinar.

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Policyholder Financial Relief

IRS and DOL Issue New COVID-19 Guidance

As a result, all individuals covered under a HDHP that provides first-dollar (i.e., not subject to the deductible) coverage for testing and treatment of COVID-19 can maintain HSA eligibility.

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