Get information on coronavirus (COVID-19) tax relief for health plans and retirement plans.
Coronavirus Relief for Retirement Plans and IRAs
The Coronavirus Aid, Relief, and Economic Security (CARES) Act makes it easier for you to access your savings in Individual Retirement Arrangements (IRAs) and workplace retirement plans if you’re affected by the coronavirus. This relief provides favorable tax treatment for certain withdrawals from retirement plans and IRAs, including expanded loan options.
High-Deductible Health Plans
High-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status.
Read the press release on HDHPs
Temporary relief for retirement plan participants to sign elections remotely
Temporary administrative relief is being provided to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility for remote signatures.
The change relates to signatures of the individual making the election to be witnessed in the physical presence of a plan representative or notary public, including a spousal consent (“the physical presence requirement”).
Read the news release about relief for retirement plan participants