Essential Action List for Employers
Overview The Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES) require employers to take a number of specific actions. The following is a summary of action items, grouped in general categories.
Decisions to Make
1. Communication Strategy 2. Retirement Plan Provisions 3. Benefit Plan Provisions (Self-Funded Employers) 4. Student Loan Provisions Notification and Communication 5. Sick Time and Paid Family Leave Notice 6. Courtesy Plan Change Notice 7. COBRA Premium Grace Period Extension Administrative Items 8. Set up New Payroll Codes 9. Payroll Credit Reporting and Process 10. Pre-Tax Plan – A Non-Decision 11. Formal SMM Distribution
12. Retirement Plan Administration Issues 13. Retirement Plan Document Amendments
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