Qualified Plan Advisors is closely monitoring the coronavirus outbreak on behalf of our clients. Below you will find our latest resources, policies, and procedures. We hope you are staying safe and healthy in these times.
Finish strong. Stocks closed the quarter, and 2020, with strong returns, despite lingering economic concerns brought on by a resurgence in coronavirus cases, challenges with the vaccine roll‐out, and uncertainty around the policy implications following the Georgia Senate runoff outcome.
The late-December COVID-19 relief bill (the Consolidated Appropriations Act, 2021 or the “Appropriations Act”) included various retirement plan-related provisions among its 5,500+ pages. A closer look at those provisions reveals that the most significant relief applies to organizations that might otherwise experience a partial plan termination. This month’s article takes a deep dive into that relief and addresses other important nuggets for plan sponsors to consume, including some student loan repayment relief applicable outside of the retirement plan context.
We were a little hesitant to use the term “Post-COVID-19” in the title of this month’s newsletter. It’s not in our past. We’re still in the midst of the pandemic and many data points suggest some tough months ahead. However, we do know that COVID-19 has shifted how most of us think, work, and communicate. As your organization conducts its business planning and strategy meetings relating to 2020, how will your organization adapt its retirement plan strategy? Here’s a gameplan for ensuring you – and your consultant – adapt the approach in 2021.
Don’t tell December that it was a November to Remember. The S&P 500 large‐cap index, the tech‐heavy Nasdaq Composite, and the Russell 2000 small‐cap index all closed out the first week of December, right where they ended November, at new record highs.
The COVID-19 pandemic brought about a combination of changes, disruptions, and challenges you’ve likely never experienced. Nearly overnight, you and your employees suddenly needed more help than ever before.
For more information on how our firm is implementing COVID-19 policies and procedures, please click here.