Blog

Massachusetts Department of Unemployment Assistance Announces Guidance On CARES Act Implementation

The Massachusetts Department of Unemployment has announced new updates to the unemployment assistance under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) for those financially impacted by the Coronavirus pandemic. The Department of Unemployment Assistance is moving swiftly to implement three new public benefit programs comprised of the Federal Pandemic Unemployment Compensation (FPUC), Pandemic Unemployment Assistance (PUA) and...

The Guide To Coronavirus Mortgage Relief Options

if you’re among those financially impacted by the coronavirus pandemic, you might be concerned about how to pay your mortgage or rent. Federal and state governments have announced plans to help struggling homeowners during this time. There are several programs available to provide Coronavirus Mortgage relief during these unprecedented and challenging times. If you are having trouble collecting rent as...

Here’s Exactly What Banks Are Offering To Do to help Americans Affected By Coronavirus

Here’s what banks are offering to do to help Americans affected by the Corona virus. Several major banks and financial companies have announced they are willing to work with customers impacted by the Corona virus through a number of programs, including fee waivers and payment deferrals. Please see the attached list. If your bank or financial institution is not listed,...

Unemployment Compensation Under the CARES Act

The Coronavirus Aid, Relief, and Economic Security Act (“CARES”) is to provide nearly $2 trillion of support to families and businesses during the COVID-19 pandemic. Please note that some of these Unemployment Insurance (UI) benefits also extend to the self-employed and independent contractors, two types of worker not typically covered by UI benefits. However, these benefits are not available to...

Congress Suspends Required Minimum Distributions For 401(k)s And IRAs For 2020, Opening Window To Tax Savings

The bipartisan COVID-19 stimulus bill just signed by President Trump includes welcome tax relief for retirees: The required minimum distribution rules for Individual Retirement Accounts and 401(k)s are waived for 2020. That means that instead of taking money out this year, retirees can keep their investments growing. The RMD waiver applies to 403(b) accounts, SEP IRAs, and SIMPLE IRAs. This...

Steps to Take During the Corona Virus Outbreak

Very obviously, we are not health care professionals. Take medical advice only from qualified medical professionals who know you personally. Medical information from the internet may not be applicable to your personal situation. Verify that the information you’re getting is genuine. News outlets that you’re familiar with or federal and state governments are far more trustworthy than unverifiable Facebook, Twitter,...

Do Annuities And 401(k) Plans Mix?

Once upon a time, retirees received pensions through defined benefit plans. Nowadays, instead, most employees have defined contribution plans—largely in the form of 401(k)s. Other Articles: Using Annuities In 401(k)s: The Debate Continues • One Thing A Divided Washington Can Agree On: Improving Retirement Security Trending Articles: 10 Best U.S. Cities For Residential Property Investment • Steve Sanduski's 5 Steps To Raising $90 Million A Year...

BFS Announcement 9/1/20