CARES Act Update
CARES Act – New Employee Benefit Tools to Support Affected Employees By: Jim Rourke and Mike Brittingham with Nexsen Pruet, LLC. Signed by President Trump on March 27, 2020, the CARES Act adds a few new tools to employers’ employee benefit arsenal. Many changes – such as the increase in plan loans limits and hardship distribution conditions – expand longstanding benefits concepts. However, other changes – such as the availability of federal loans, that may be forgiven, to cover payroll…