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Tag: Craig Erickson

401(k) Plans and the Coronavirus

By Craig Erickson With the global pandemic caused by COVID-19 causing vast uncertainties in the economy, employers that sponsor employee benefit plans and the plan fiduciaries must continue to manage and administer their benefit plans, as well as address inquiries from their participants.  The following are some topics that may be helpful during these times. Hardship Withdrawals Plan sponsors may receive calls from plan participants in the near future asking for ways they can financially...

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Coronavirus Retirement Plan Review

By Craig Erickson With the continual uncertainty we are facing each day, it is important to keep in mind that changes in legislation may impact your current design of your employee benefit plan.  Following are some topics Plan sponsors and fiduciaries of employee benefit plans may overlook. 401(k) and Profit-Sharing Plans: Employer Contributions – Plan sponsors and fiduciaries may want to consider reducing or halting employer contributions.  For non-safe harbor plans (match or non-elective...

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