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Single-Employer Pension Funding Changes Assist Employers with COVID-19 Recovery

The pandemic has impacted many employers, and now, more than ever, employers need to target their resources on recovery efforts such as salaries, equipment, and re-opening. Today’s letter urges lawmakers to help the pension plan sponsors recover in a way that does not use taxpayer money or jeopardize benefit plans, by giving employers more flexibility to fund their pension plans.

CalSavers Delays First Enrollment Deadline

On April 15, the California Secure Choice Retirement Savings Investment Board voted to delay the program’s first enrollment deadline for companies with more than 100 employees from June 30 to September 30, 2020.