Impact of COVID-19 on Retirement Plans
Updated on April 22, 2020
Please Note: The subject matter in these FAQs is provided with the understanding that Cetera Retirement Plan Specialists is not rendering legal, accounting or tax advice. Plan sponsors and participants are encouraged to consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.
In the absence of formal guidance from the Treasury, Internal Revenue Service (IRS), Department of Labor (DOL) and other regulators, many of the answers related to implementation of the CARES Act are guided by prior experiences, when available, and/or good faith interpretation. As a result, while intended to be accurate as of the time of presentation, the FAQ responses provided in this document are subject to change as specific guidance and regulations become available.
Plan Contributions, Types and Flexibility
CARES Act - Relaxed Loan Rules
CARES Act - Required Minimum Distributions Waiver
Employment Termination Issues
Plan Withdrawals, In General
CARES Act - Coronavirus-related Distributions
Deadlines and Extensions
Copyright © 2020 Cetera Retirement Plan Specialists Our address is 2125 Oak Grove, No. 105, Walnut Creek, CA 94598, US
Cetera® Retirement Plan Specialists may provide third-party administrative services (TPA) to clients of financial advisors who are affiliated with its family of broker-dealers and registered investment advisers. Cetera Retirement Plan Specialists is part of Cetera Financial Group®. Cetera Retirement Plan Specialists and its related entities operate independently and there is no requirement for retirement plan clients of Cetera Financial Group firms to engage with Cetera Retirement Plan Specialists.
About Cetera Financial Group® Cetera Financial Group (Cetera) is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions. Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include awardwinning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.
For more information, visit cetera.com.
“Cetera Financial Group” refers to the network of independent firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, and First Allied Securities. All firms are members FINRA/SIPC.