collage of building columns and money (Photo: Shutterstock)

We are getting a lot of questions regarding the amount of retirement contributions paid during the qualifying period for the forgiveness calculation. This is in regards to the Paycheck Protection Program (PPP) in the recent CARES Act:

Will a contribution for the 2019 plan year count toward forgiveness? Will a contribution for a full year count, or will some proration apply to account for the 8/52 weeks concept?

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor