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June 23rd, 2020 Information & Insights for the 403(b) Community Retirement Plan Providers Amplifying Diversity and Inclusion Efforts Concrete steps providers are taking to increase equity within the workforce are examples plan sponsors can follow. Clearing Up Confusion About Retirement Timing The pandemic may put a wrench in some participants’ plans to retire, but others may be more prepared than they think. How can plan sponsors help them decide? Ask the Experts Excluding Employees From the Right to Make 403(b) Elective Deferrals “I work with a charter school that wishes to exclude certain employees from the right to make elective deferrals to its 403(b) plan. Specifically, the school wishes to exclude employees who would work less than 10 hours per week and employees who would defer less than $10 per month. Can they exclude such employees from the right to make elective deferrals in this manner without violating the universal availability rules?” TIAA Offers Nonprofits a Student Debt Relief Program for Employees Together with Savi, TIAA has launched a program that helps employees reduce their monthly payments and qualify over time for the federal Public Service Loan Forgiveness (PSLF) program. COVID-19 Compliance Corner: IRS Eases Spousal Consent Rules for 2020 Each week, Carol Buckmann, with Cohen & Buckmann P.C., will explain legislative provisions or official guidance related to the COVID-19 pandemic that affect retirement and health plan sponsors. IRS Makes More People Eligible for CARES Act Distributions and Loans Notice 2020-50 expands the definition of who is a qualified individual to take into account additional factors such as reductions in pay, rescissions of job offers and delayed job start dates. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 400, Rockville, MD 20850