The Consolidated Appropriations Act, 2021, signed into law by President Donald Trump on December 27, 2020, provided COVID-19 relief, including some retirement plan law changes.
The COVID-Related Tax Relief Act of 2020, which is Subtitle B of the Act, amends the CARES Act to provide that in-service distributions from money purchase pension plans can qualify as COVID CARES Act distributions. This change is effective as if made part of the CARES Act.
Money purchase plans still do exist and they should have been treated the same as other Defined Contribution Plans, as it pertains to the CARES Act.
