Regional Vice President of Sales The Retirement Plan Company
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Compass
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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When Disaster Strikes: IRS Guidance Gives Employers Additional Options for Assisting Employees Hit by Hurricanes Harvey and Irma
Foley & Lardner LLP [Guidance Overview] Sept. 26, 2017 "[T]he new guidance permits employers to waive the restrictive rules usually imposed by the Internal Revenue Code on loans and hardship distributions from tax-favored retirement plans. The guidance also permits employers to adopt leave-based donation programs to facilitate contributions to charities assisting victims of the disasters.... [E]mployers may also make 'qualified disaster relief payments' directly to employees under certain circumstances.... In addition to the tax relief provided by the IRS, the U.S. House of Representatives is expected to consider legislative relief for individuals affected by Hurricanes Harvey and Irma (and also Hurricane Maria)." |
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