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Products April 20, 2020
PCS Retirement and Aspire Offer Fee Credits for Loans and Hardship Withdrawals
The firms will credit back all recordkeeper fees on loans and distributions below $10,000.
Reported by PLANADVISER Staff
PCS Retirement and Aspire say they believe a retirement account should be the last resort for funding day-to-day expenses.
However, to help alleviate financial pressures for those most in need, they announced they will credit recordkeeping fees for both loans and hardship distributions up to $10,000 under the Coronavirus Aid, Relief and Economic Security (CARES) Act back to a qualified individual’s account. The credits will be in effect from March 27 until December 31.
The fee credits are available for all tax-qualified employer-sponsored retirement plans that permit such distributions.
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