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Products April 20, 2020
PCS Retirement and Aspire Offer Fee Credits for Loans and Hardship Withdrawals
The credits will be in effect from March 27 until December 31.
Reported by PLANSPONSOR 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.