CBC Fall 2020 Newsletter

COST OF LIVING ADJUSTMENTS FOR 2021 ON OCTOBER 26, 2020, THE IRS ANNOUNCED THE COST OF LIVING ADJUSTMENTS AFFECTING THE DOLLAR LIMITATIONS FOR RETIREMENT PLANS. Contribution and benefit increases are intended to allow participant contributions and benefits to keep up with the “cost of living” from year to year. Here are the highlights from the …

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Enhanced Loans for Qualified 401k Participants

With the spread of the coronavirus and the resulting closures and cutbacks, many 401k participants are working reduced hours, but are not considered to be terminated for purposes of ERISA. Furloughs and similarly-required leaves are common for businesses whose employees interact directly with retail customers, such as restaurants, stores, and gyms. Many of those employees …

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