Benefits Alert: Coronavirus distributions consideration for DB Plans under the CARES Act

By Bret Linton, Vicki Mazzie, and Vanessa M. Vaag
29 April 2020
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The Coronavirus Aid, Relief, and Economic Security Act permits a “qualified individual” to certify to the employer that they qualify to elect a coronavirus-related distribution (CRD). A plan sponsor may wish to consider offering CRDs during 2020 from a single employer defined benefit plan as well as, or in addition to, a CRD from its defined contribution plan.

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About the Author(s)

Bret Linton

Seattle Tel: 1 206 3428955

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Vicki Mazzie

Albany Tel: 1 518 5147100

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Vanessa M. Vaag

Little Falls Tel: 1 973 5695629

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