Plans, Perks & Pay | Employee Benefits & Executive Compensation Blog

When the CARES Act was enacted, we wrote about its provisions that impact retirement plans and provide relief to plan sponsors and plan participants. Recently, pursuant to Section 2202 of the CARES Act, the Internal Revenue Service issued Notice 2020-50 on coronavirus-related distributions and plan loans from eligible retirement plans. Notice 2020-50 provides guidance to employers on several subjects associated with coronavirus-related distributions and plan loans, including the following: