Once again, we hope you, your families, and your employees and their families are continuing to be safe and well.

The following is a summary of the major provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that most impact retirement plans. The CARES Act was passed on March 27, 2020 and provides much needed access to retirement savings for those in financial distress as a result of the coronavirus pandemic. The following Executive Summary will provide you with an awareness of the kinds of changes that were enacted; those of you who require additional details should read on.