An overview of the provisions and key details for participants and plan sponsors.
WORKPLACE THOUGHT LEADERSHIP
On March 27, 2020 the president signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. The more than $2 trillion package seeks to address financial pressures facing individuals, businesses, and state and local governments due to the pandemic.
The CARES Act provisions highlighted in this guide impact plan sponsors, advisors, consultants, and participants. Fidelity is committed to the implementation of these measures and will work to further educate our customers on the details of the law as questions continue to arise.
This guide focuses on a high-level summary of the key provisions relevant to qualified workplace retirement plans. While every plan and organization is different, you can use the information to help prepare for the changes affecting your specific benefits programs. Topics include:
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For plan sponsor and investment professional use only.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
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