Compass
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AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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PBGC Issues FAQs on CARES Act Contribution Delay
Mercer [Guidance Overview] July 29, 2020 "The CARES Act gives employers until Jan. 1, 2021, to make any minimum required contributions originally due during the 2020 calendar year. However, the Act didn't extend the deadline for Form 5500 ... or the PBGC premium package ... [T]he variable-rate premium may only reflect contributions received by the premium filing date. PBGC confirms that sponsors may not submit an amended filing reflecting a later contribution and then request a refund. The FAQs note that the delay gives sponsors an extra month to make their 2019 contributions (Oct. 15 instead of Sept. 15). But that is still 2-1/2 months earlier than the deadline contemplated by the CARES Act." |
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