As a participant in the Abilene Christian University 403(b) Retirement Plan, we want to make you aware of the options available to you as a result of the Coronavirus Aid, Relief and Economic Security (CARES) Act. ACU has chosen to adopt the following CARES Act provisions for our retirement plan:
- Penalties and withholding are waived for qualified distributions from retirement plan accounts
- Optional suspension of required minimum distributions (RMDs) for 2020
In addition to these CARES Act relief measures, the deadline for 2019 Individual Retirement Account (IRA) contributions has been extended from April 15 to July 15, 2020. Read important details here.