With so many layoffs and furloughs thanks to the Coronavirus Pandemic, plan sponsors don’t have the cash that they did before.
If you have plan sponsor clients with safe harbor 401(k) contribution, stated matching contributions, or required minimum funding contributions under a pension plan now is the time to have the discussion with them before it’s too late and they end up paying more in contributions that they may not be able to afford.
Being pro-active with them will allow you to look good in their eyes and allow them to avoid making contributions that they can’t afford.
