With the reality of COVID-19 spanning every part of the world, in order to slow and manage the spread of the virus, current administration and local authorities are enacting social distancing and non-essential shelter in place policies. We all understand the forced stress this is putting on various businesses, from the local main street ice-cream shop to very large companies like airlines. Needless to say, cash flow and profitability may become unpredictable for you and help may be on the way. Washington is working at lightning speed (for them) to make various programs available, from stimulus packages, altering tax filing deadlines, and other benefits to help employers and employees during this very difficult time. How does this impact your retirement-plan? I’ve attached a Q&A from our document provider, which is a very nice easy to read piece and may answer some general questions
Should you have questions or concerns regarding your plan, please call us so we can specifically address your needs and offer guidance and solutions made available under these newly established rules. I can’t begin to explain the number of conferences calls I’ve attended and listened to over these past three weeks. We are doing our best to stay informed by industry leaders, portfolio managers, and experts in the field, as information is changing almost daily. We will continue to be updated during this unprecedented time and will pass along more information as it becomes available. View our Q & A here.