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In addition, it is waiving distribution and loan origination fees for COVID-19-affected participants and CARES Act-related plan amendment fees for employers through August.
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The firm has established a dedicated team to support participants who are considering accessing their retirement savings to meet their short-term financial challenges related to the pandemic.
In addition to waiving fees related to participant hardship withdrawals, the firm is suspending fees for plan amendments made in response to the pandemic.