Michigan Chamber of Commerce issued the following announcement on April 14
"CARES" Act and the Affect on Employer Sponsored Benefit Plans
April 14, 2020
Our partners at Dickinson Wright will discuss the provisions of the Coronavirus Aid, Relief, and Economic Security ("CARES") Act that affect employer sponsored benefit plans and other employee benefits issues facing employers responding to Coronavirus.
Topcis for discussion:
- The new Coronavirus Related Distribution option and implications for employers and employees;
- Additional flexibility for participant loans in retirement plans;
- Waiver of 2020 required minimum distributions;
- Single-employer defined benefit pension plan funding relief;
- Coverage of COVID-19 testing and preventive services;
- Exemptions for telehealth services;
- Reimbursements for over-the-counter drugs;
- Considerations for employers experiencing mass layoffs under the Affordable Act, ERISA, and the Internal Revenue Code; and
- COVID-19 related concerns for executive-level compensation.
Original source can be found here.
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