Board Resolutions: Approving Qualified Retirement Plan Changes for COVID-19 | Practical Law

Board Resolutions: Approving Qualified Retirement Plan Changes for COVID-19 | Practical Law

Resolutions of a company's board of directors approving qualified retirement plan changes due to the 2019 novel coronavirus disease (COVID-19) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The resolutions permit coronavirus-related distributions, an increase in plan loan amounts, and plan loan repayment extensions as permitted under the CARES Act. These Standard Clauses have integrated notes with important explanations and drafting tips.

Board Resolutions: Approving Qualified Retirement Plan Changes for COVID-19

Practical Law Standard Clauses w-025-0042 (Approx. 7 pages)

Board Resolutions: Approving Qualified Retirement Plan Changes for COVID-19

by Practical Law Employee Benefits & Executive Compensation
Law stated as of 30 Apr 2021USA (National/Federal)
Resolutions of a company's board of directors approving qualified retirement plan changes due to the 2019 novel coronavirus disease (COVID-19) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The resolutions permit coronavirus-related distributions, an increase in plan loan amounts, and plan loan repayment extensions as permitted under the CARES Act. These Standard Clauses have integrated notes with important explanations and drafting tips.