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Products April 15, 2020
Ameritas Waives Fees to Relieve COVID-19 Financial Burdens
Plan sponsors can opt in to the voluntary provisions.
Reported by PLANSPONSOR Staff
In an effort to ease financial burdens on plan participants and plan sponsors caused by COVID-19, Ameritas is waiving several of its plan fees.
The company has recently implemented provisions from the Coronavirus Aid, Relief and Economic Security (CARES) Act for distributions, loans and required minimum distributions (RMDs), and plan sponsors can opt in to the voluntary changes.
In addition to these federally legislative changes, Ameritas is waiving fees for loans and distributions made under the CARES Act provisions, suspending automatic collection of invoiced fees after 90 days and assisting in plan design changes and amendments at no charge.
“Ameritas is here for you,” says Jim Kais, senior vice president of Ameritas retirement plans, . “These are unprecedented times, but we are ready to help keep you on track to meet your retirement goals. Ameritas is in the business of fulfilling lives.”