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Dealing with COVID-19's massive impact on employers, employee benefits, 401(k) and pension plans, health insurance, and more.

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U.S. House of Representatives seal on the podium of the media briefing room in the Capitol building, 2014 U.S. House of Representatives seal on the podium of the media briefing room in the Capitol building, 2014. (Photo: Diego M. Radzinschi/THE NATIONAL LAW JOURNAL.)

The $2.5 trillion coronavirus stimulus package from the House of Representatives includes several retirement provisions in the Senate bill currently being debated, but goes substantially further.

The Senate’s CARES Act includes a temporary suspension of required minimum distributions for in 2020, a doubling of hardship and loan distribution limits to $100,000, a waiver of the 10 percent penalty on hardship and loan distributions, and the ability to pay back taxes on loans over a three year period.

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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