Tag: coronavirus

“The uncertainties caused by COVID-19 have not changed our perspective or commitment,” SEC Chairman Jay Clayton says.

The fee waiver will remain in place until further notice, depending on circumstances in the economy and financial markets.

With the coronavirus pandemic causing acute financial harm to so many Americans, plan sponsors may feel compelled to offer hardship withdrawal relief in their plans; plan advisers can help them make the best decisions for their workforce by, for example, endorsing loans over outright withdrawals. 

The Advisor Resiliency Pack suite of services is designed to help advisers grow and enhance client engagement as well as manage their business operations through the effects of COVID-19.

Through September 30, Voya will credit CARES Act-related transaction fees to DC plan participants and offer financial education to Americans.

First the SECURE Act and now the CARES Act have made important changes to the rules for required minimum distributions from individual retirement accounts and 401(k)s.

The March 31 deadline for 403(b) plans has been extended to June 30; the April 30 deadlines for DB plans have been extended to July 31.

Retirement plan professionals who have navigated a severe natural disaster in their region will recognize many of the retirement plan-focused relief provisions to be implemented by Congress.

The retirement plan-focused provisions passed by the Senate last night are among many meant to ease the financial pressures posed by the coronavirus pandemic.

Newport anticipates plan sponsors will see an increase in loan and hardship distribution requests.

However, excess deferrals made by participants in 2019 must still be paid to participants by April 15.

The company already had extended financial wellness resources to members affected by the coronavirus.

Even as they await federal action, retirement plan recordkeepers have put plans in place to help workers and retirees make the best financial decisions during this challenging time.

It will enable them to communicate with participants and sponsors during the coronavirus pandemic.

Recordkeepers expect the volume of loans, hardships and withdrawals will increase in coming weeks and months.

Media outlets suggest one of the federal government’s responses to the coronavirus outbreak will be to temporarily guarantee money market funds—mirroring what proved to be an important policy decision made during the Great Recession.

While in-person participation is an important part of the financial system regulated by the SEC, the virus is forcing market makers to significantly adjust their operations.

The U.S. stock market has entered bear market territory after its record bull run; one silver lining is the opportunity to educate people about annuities.