McNees’ Benefits Group will be issuing a “Did you know?” series throughout the year providing short compliance reminders.

Did you know that qualified retirement plans may now allow a participant with a terminal illness to receive distributions from their retirement accounts without incurring the usual 10% penalty? The employer will need to amend the retirement plan to allow for such distributions.

For more information regarding compliance for your benefit plans, contact any member of the McNees Labor and Employment Group.