IRS Provides COVID-19 Related Relief for Mid-Year Reductions on Safe Harbor Contributions to 401(k) Plans
On June 29, 2020, the IRS issued guidance that gives some relief to plan sponsors that amend their safe harbor Section 401(k) or 401(m) plans mid-year to reduce employer safe harbor matching/nonelective contributions due to the COVID-19 pandemic. The IRS notice can be found here.