The Consolidated Appropriations Act: 2021’s Employee Benefits Provisions
McNees
JANUARY 19, 2021
The Consolidated Appropriations Act, 2021 (“Act”), signed by President Trump on December 27, 2020, contains several provisions affecting employee benefits. Currently, a pension plan may elect, under Section 420, to transfer excess pension assets over a designated period of time to fund certain retiree health and life insurance costs.
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