Congress has already passed several extremely expensive COVID-response packages and may consider additional measures. Although the primary focus of these response packages has been to fund hospitals, clinics, first responders, and small businesses, they have also included a number of employee benefit and retirement-related provisions that have all been directly or indirectly related to the COVID pandemic (e.g. allowing affected employees to access their retirement savings without penalty; permitting employers to use federal loans to maintain employee benefits, modifying the funding obligations of single employers that maintain defined benefit plans; etc.). Transamerica will continue working with Congress on identifying these types of issues that have such an important impact on people’s financial lives.

Contact arielle.broussard@transamerica.com with any questions or issues.

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