Chantel Sheaks

Vice President, Retirement Policy

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Together We Are Stronger

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. 

Congressional Inaction Costs Our Businesses and Our Jobs

“The most threatening issue to our company’s survival beyond 2020 may not be the pandemic, oil shocks, or civil unrest, but the failure to support and reform the multiemployer pension system.”

Quick Take: Your Primer on Small Business Retirement Plans

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

House vote on multiemployer pension funding recognizes there is a problem, but more is needed

As the multiemployer pension funding crisis looms, its now up to the Senate to act.

House passage of the SECURE Act clears the way for Senate action

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).

Open multiple employer plans: a concept as easy as child’s play

Help Small Business Employees Plan for Retirement

Small employers need retirement plan solutions, and the SECURE Act paves the way through open multiple employer plans.