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Employee Benefits and Health Insurance Provisions Are Injected Into New COVID-Relief Legislation | Dechert LLP


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The Consolidated Appropriations Act, 2021 (the “Act”) was signed by the President on December 27, 2020, to provide additional COVID-related relief.  The Act has a number of provisions that are relevant to retirement plans, health and welfare plans and health insurance as discussed below.
I.          TAX-QUALIFIED RETIREMENT PLANS
A.        Use of Retirement Funds for Disaster Mitigation (Act, Division EE, § 302)
Taking a similar approach as was done under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), the Act relaxes certain restrictions with respect to early distributions and plan loans to allow plan participants to withdraw assets from their retirement plans and avoid related penalties.  For additional information on the CARES Act, see our March 26, 2020 OnPoint. ....

Robertt-stafford , Public-health-services , Paycheck-protection-program , Group-insurance-payments-as-payroll-costs , Consolidated-appropriations-act , Retirement-funds , Disaster-mitigation , Coronavirus-aid , Economic-security-act , Qualified-disaster , Internal-revenue-code

Transcripts for FOXNEWS FOX Friends First 20200403 09:50:00

One%, no payback for 6 months. it could even become grants, forgivable loans if the business hires employees back, the president highlighted that yesterday. these loans are up to 100% forgivable as long as employers keep paying their workers. reporter: the business owners should contact their bank today. you probably need to show several documents about what rent or mortgage your pain, payroll costs, general operating expenses. it is also available to sole proprietors and freelancers. steve mnuchin said these loans would be easy to get. any fdic institution could do this, any existing lenders. reporter: available from all these different companies, for americans waiting on stimulus check steve mnuchin moved up ....

President , Loans , Employers , Employees , Business , Grants , Payback , One , 6 , 100 , Reporter , Workers

Detailed text transcripts for TV channel - DW - 20171204:18:23:00

Thirty million euros the company s founder is convinced that using robots increases overall productivity and that this will help keep payroll costs down in the industrial world. when we start automating more we see that the percentage of machine time compared to the percentage of manual labor increases which means we can start reshowing many thanks thing we re evening out the playing field we re making it cost the same to manufacture all over the world and in the end it benefits the countries with their high salary level. and this is a glass tech company the third the robot will soon be operational it s currently being programmed after one and a half years this one to help or has already paid for itself and the company s boss already has ideas for where he could use another one. and prepare for that now that s all from business desk i ll be back with more business use later on filled accounts back to you for world news coverage thank you so much to multiply where ....

Arab-world , Robots , Company , Productivity , Payroll-costs , Founder , All , Percentage , Thing , Labor , Playing-field , Increases

Detailed text transcripts for TV channel - DW - 20171204:11:27:00

Overall productivity and that this will help keep payroll costs down in the industrial world. when we stop automating more we see that the percentage of machine time compared to the percentage of manual labor increases which means we can stop reshowing manufacturing we are you getting off the playing field making it cost the same to manufacture all over the world and in the end it benefits the countries with a high salary level at this company the thug the robot will soon be operational it s currently being programmed. this one has already paid for itself and the company s boss already has ideas for where he could use another one. or more you can go online of course follow us on twitter with more. ....

World , Percentage , Payroll-costs , Productivity , Labor , Robot , Company , Countries , All , Increases , Playing-field , Salary

Detailed text transcripts for TV channel - DW - 20171204:13:27:00

Metal coworkers or co bots comes from denmark they re intended to be simple and easy to use the supplier universal robots began life as a startup over the last two years it has seen its turnover double to one hundred thirty million euros the company s founder is convinced that using robots increases overall productivity and that this will help keep payroll costs down in the industrial world. when we start automating more we see that the percentage of machine time compared to the percentage of manual labor increases which means we can stop reshowing manufacturing we are evening out the playing field we re making it cost the same to manufacture all over the world and in the end it benefits the countries with a high salary level. and that s it for me in the business yeah and i ll have an update for you in the next hour before you go it is ....

Robots , Co-bots , Life , Denmark , Metal-coworkers , Supplier , Startup , Turnover-double , One-hundred-thirty-million , One-hundred-thirty-million-euros , Two , Company