We are getting reports from a number of our members that employers - struggling with the impact of business closings, a lack of customers, or other economic impacts due to the pandemic - are contemplating terminating their 401(k) plan as a way to free up cash. 

As an alternative to termination, we've been discussing legislation that would permit employers to halt their contributions for the remainder of the year.   We need your help to assess the potential impact.

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* 1. Have any of your small business clients approached you with concerns about plan termination/contribution funding?

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* 2. Approximately what percentage of your small business clients do you feel are candidates for plan termination as a consequence of the corona pandemic (e.g. reduction in sales, reduced employee counts, reduced hours, forced closures)?

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* 3. Approximately how many (a count, not a percentage) of your small business clients do you feel are candidates for plan termination as a consequence of the corona pandemic (e.g. reduction in sales, reduced employee counts, reduced hours, forced closures)?

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* 4. Comments about concerns that your employer clients have expressed about the impact of coronavirus on their operations/plan contributions/funding?

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* 5. What is your role working with retirement plans?

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* 6. What size plans do you PRIMARILY work with?

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* 7. All responses are confidential, of course - but if you'd be open to the potential for a followup email/call, please provide contact information.

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