UPDATE 12.28.20: Congress passed legislation Dec. 21, 2020 that was signed by the president Dec. 27 extending federal coronavirus paid leave benefits until March 31, 2021.
While mandatory benefits expire Dec. 31, 2020, covered employers may voluntarily provide emergency paid sick leave or emergency paid FMLA leave under FFCRA and take the tax credits associated with this leave from Jan. 1, 2021 through March 31, 2021.
The following presentation was led by Virginia McGarrity, partner with the Connecticut law firm Robinson + Cole and firm associate Alisha Sullivan. CBIA's Phillip Montgomery provides the introduction.
The presentation covers certain provisions of the CARES Act affecting employee benefit plans, specifically retirement plans, health and welfare plans, and employer-provided student loan assistance.
It also discusses how changes to an employer’s workforce, such as layoffs or furloughs, will affect benefits.