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Tuesday
Jan192021

Spousal Consent for Certain Participant-Elected Distributions and Loans

DateTuesday, January 19, 2021 at 1:31PM by AuthorBanking Spectrum

Plan administrators of certain retirement plans are required to obtain spousal consent for some participant-elected distributions and loans, if applicable. The COVID-19 pandemic created challenges for spouses to appear physically before a notary public or plan representative to witness their consent. Temporary relief of this requirement was granted last year and has been extended through June 30, 2021. Read more.

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