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Products April 17, 2020
Mutual of Omaha Eliminates Distribution Fees
It is the latest recordkeeper to waive fees because of the coronavirus pandemic.
Reported by Lee Barney
In response to the COVID-19 pandemic, Mutual of Omaha Retirement Services announced it will be waiving transaction fees for COVID-19-related distributions (CRDs) from retirement plans, as well as fees on qualified 401(k) loans based on Coronavirus Aid, Relief and Economic Security (CARES) Act provisions.
“As our retirement plan sponsors and their employees navigate this new and unsettling environment, Mutual of Omaha is waiving these fees to allow those in need of these funds access without additional administrative expense,” says Laura Huscroft, vice president of retirement plans at Mutual of Omaha. “The Mutual of Omaha team has experienced firsthand the impact the global pandemic has had on individuals. We value our customers and are dedicated to helping during this time of uncertainty.”
To learn more about the steps Mutual of Omaha is taking regarding the COVID-19 pandemic, click here.