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the IRS building in Washington DC in May 2013 (Photo: Diego M. Radzinschi/THE NATIONAL LAW JOURNAL)

The IRS recently posted 14 questions and answers for plan sponsors and third-party administrators regarding coronavirus-related loans and distributions, but they do not answer all of the questions posed by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) retirement plan provisions. While the wait for formal guidance continues, the Q&As confirm that each of the distribution and loan provisions are optional for employers to adopt (or not adopt).

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