COVID-19 UPDATE
Certified Benefits Corp is Here for You
The COVID-19 virus is disrupting business in ways many could not have anticipated. During this time, Certified Benefits Corp is here to support you in order to keep your retirement plan operating as smoothly as possible.
Is Certified Benefits Corp (CBC) open for business during the COVID-19 pandemic?
Yes! Our regular hours of operation are 8:30 a.m. – 5:30 p.m. EST, Monday through Friday, and will remain in effect during this time. Any changes or updates on office hours will be posted here on our website and on our Facebook Page.
Will CBC experience any service interruptions?
We have a robust Business Continuity Plan that enables us to continue all operation during this challenging time – even while some staff members may be working remotely. This Plan includes making sure our teams have the tools and technology they need to continue providing our services and that all client data remains safe and secure.
Will CertifiedDifference.com continue to be operational?
Yes. Our Participant and Sponsor website is built on a highly redundant infrastructure that allows you continued access to your account for review and changes, as well as Sponsor data upload.
How is CBC handling COVID-19 from a safety standpoint?
Our top priority is the health, safety and well-being of our employees. We have adopted CDC-recommended procedures to prevent the spread of the virus within our office. This includes encouraging employees to work remotely and performing regular environmental cleaning in our offices.
How is COVID-19 affecting enrollment meetings and plan review meetings?
We have temporarily suspended in-person meetings. We will continue to monitor the ongoing regulations and begin allowing in person meeting when it is safe and allowable. In the meantime, we will be using teleconferencing technology to virtually meet face-to-face with our clients or participants that are requesting help. We will also utilize pre-recorded presentations to provide an alternative to group enrollment meetings. This ensures that employees are receiving the information that they need to be enrolled into your retirement plan.
Will my retirement distribution payment be interrupted by the COVID-19 pandemic?
This depends on your current or former employer. If an employer provides us with the information needed in a timely fashion, your distribution payment will not be interrupted in any way.
Will I have access to my retirement funds during the COVID-19 pandemic?
Yes, generally speaking. Federal law governs when you can take a distribution from your retirement plan account; upon your retirement, death, disability, or termination of employment, or by a Plan loan if loans are allowed by your Plan, and for certain situations called “Hardship Distributions.”
Additionally, the CARES Act has been passed and allows Plan Sponsors to adopt provisions regarding distributions specifically related to or caused by COVID-19.
Do the CARES Act provisions apply to my Retirement Plan?
In short, maybe. While many of the provisions are on a participant level (withholding delay, penalty relief, etc.), a majority of the provisions must be adopted by the Plan Sponsor in order to provide additional access to funds in your Plan beyond your current access already available (in-service, hardship, etc.).
Who should I call if I have any questions about my Retirement Plan Account?
Please call our toll-free customer service number, 800.393.9900. Despite the unusual current circumstances, our team at Certified Benefits Corp is committed to you and Participant Advisory Services is standing by to help.