Although short in length, Section 3608 of the CARES Act is a powerful tool for employers that sponsor defined benefit pension plans. Congress recognized that in these uncertain times, employers were facing a dilemma: make pension contributions (for obligations that won’t be due in years) or make payroll and other short term costs. To help, Congress included Section 3608 in the CARES Act which allows plan sponsors to delay any required 2020 contributions to their defined benefit plans until January 1, 2021. 

Many small business owners struggle to provide retirement savings plans. With MEPs, small business employees can secure healthy retirements.

In a politically divided nation, the Senate has the rare opportunity to pass the SECURE Act to secure Americans' retirement.

On May 23, the House voted 417 to 3 in favor of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the basis of which was the Retirement Enhancement Savings Act (RESA).