Monday, September 28, 2020

We’re Answering Your Questions about Waived RMDs

Earlier this year the CARES Act waived required minimum distributions (RMDs) for 2020, in order to provide financial flexibility and allow retirement accounts to bounce back from this year’s market downturn. The participant does not have to make an election regarding the 2020 RMD waiver if they operated according to the default. As a result of these changes, you will not receive an RMD processing packet from us this year. However, you can access a list of eligible participants from the plan website under Reports > Reports Menu > RMD Eligible Participants with Balances.

Unless otherwise requested, automatic end-of-year payments will not be processed, but scheduled installment payments will continue.

To learn more about waived 2020 RMDs, what’s required of you, and how we will support you, please refer to our