Best Interest Standard of Care for Advisors #29
Best Interest Standard and Recommendations of Rollovers and Withdrawals On June 15, SEC Chairman Clayton issued a statement partially entitled: “Need for Increased Care when Recommending 401(k)/IRA Rollovers and Withdrawals . . .”. As that title suggests, the Chairman’s statement covers areas where the SEC will focus on recommendations when Reg BI applies on June […]
The CARES ACT: Helping Your 401(K) Participants During the Coronavirus Crisis
Waiver of Required Minimum Distributions Updated through July 28, 2020 By Fred Reish, Bruce Ashton and Betsy Olson This is the third in our series of articles on special CARES Act provisions designed to help your 401(k) participants. In our prior articles, we discussed the temporary loan enhancement rules and coronavirus-related distributions (CRDs). Here we […]
The CARES Act: Helping Your 401(K) Participants During the Coronavirus Crisis
Special Distributions to Qualified Participants Updated through July 28, 2020 By Fred Reish, Bruce Ashton and Betsy Olson Our first article discussed CARES Act provisions designed to help your 401(k) participants with temporary loan enhancements. Here we discuss a second provision of the Act that can help participants who are affected by the coronavirus (called […]
The CARES Act: Helping Your 401(K) Participants During the Coronavirus Crisis
The Enhanced Loan Provision for Qualified Participants Updated through July 28, 2020 By Fred Reish, Bruce Ashton and Betsy Olson With the spread of the coronavirus and the resulting closures and cutbacks, many 401(k) participants are working reduced hours, but are not considered to be terminated for purposes of ERISA. Furloughs and similar required leaves […]