Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Atlantic Pension Services Inc
Nova 401(k) Associates
The Retirement Plan Company (TRPC)/an ABG firm
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|IRS Clarifies Partial Plan Termination Rules During Pandemic|
Apr. 29, 2021
"[The updated five-part Q&A clarifies provisions of the Taxpayer Certainty and Disaster Tax Relief Act of 2020:] ...  'Active participant covered by the plan' is determined based upon a reasonable, good-faith interpretation of the term ...  The Act does not require the same individuals to be covered on the beginning and end dates, only that the number counted on March 31, 2021, include all individuals who are active participants covered by the plan on said date.  The reduction in the number of active participants is not solely limited to reductions related to the COVID-19 pandemic."
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