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3. One-year Extension of Loan Repayments

Qualified Individuals may suspend loan payments that were scheduled to occur between
the effective date of the Act and December 31, 2020. These repayments may be suspended
for one year. Additional details are in MassMutual’s article, Your Retirement Plan and the
Coronavirus.

Other Provisions of the CARES Act

4. Retroactive Plan Amendments allowed

The Plan Sponsor can start operating the plan to allow the optional provisions of the CARES
Act immediately upon the enactment of CARES. They can amend the plan retroactively to
include these provisions in their written document at a later date. For most plans, the plan
must be amended by the last day of the first plan year beginning on or after January 1, 2022.
Governmental plans have a later date; they must amend by the last day of the plan year
beginning on or after January 1, 2024.

5. Required Minimum Distributions (RMD) suspended

As a result of the CARES Act, RMDs are no longer required for 2020.

Participant Distribution FAQ’s

6. If the Optional Provisions are enacted, what information will Participants receive,
and how quickly will the provisions be ready?
A participant guide to the new Coronavirus temporary loan and distribution provisions will be
available for Plan Sponsors to distribute to participants if the new provisions are elected.

MassMutual’s systems will reflect the new provisions within 2 business days of Sponsor election.
Once reflected in MassMutual’s system participants my begin requesting the distributions
and/or loans.

P a g e | 5 | RS-49007-00
This document is intended for Plan Sponsor and Third-Party Administrator use only. Not intended for Participant
use.
Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001,and it affiliated US
insurance companies