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May 12th, 2020 Information & Insights for the 403(b) Community PLANSPONSOR 2020 Service Stars Four individuals and six teams from the retirement plan provider community were selected as the 2020 Service Stars. The program recognizes the retirement plan account representatives and relationship managers who, in the words of their plan sponsor clients, have demonstrated exemplary service. Get to know this year’s winners. COVID-19 Compliance Corner: Who Qualifies for Coronavirus-Related Distributions? 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 plan sponsors. Ask the Experts The RMD Waiver for RMDs Already Distributed “I read that the CARES Act waives all required minimum distributions (RMDs) for retirement plans such as our 403(b) plan for 2020. But what about participants who turned 70 ½ in 2019 and already took their required distribution prior to the CARES Act being issued? I know that their initial distribution could have been delayed until April 1, but all of our participants took theirs well before the deadline.” Coronavirus Pandemic Exacerbates Retirement Savings Inequality New data shows that the coronavirus pandemic is having a negative effect on small business employees, especially women, only adding to their retirement savings shortfall.  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