Page 69 - AprDefComp

Plan Administration FAQ’s

17. How soon after a sponsor returns the RCPO will MassMutual’s systems be
updated?
Once we receive a client response, we will have the information updated on our systems
within 2 business days.

18. If I enact the optional provisions of the CARES Act by responding to the RCPO
questionnaire, is there anything I need to update or change with MassMutual?
Depending on current plan setup, there may be additional action, i.e. if the plan doesn’t
allow loans, but wishes to enact the new maximum loan provision. This would require a plan
amendment to add a loan option and MassMutual will need loan setup criteria to establish in
our systems. Otherwise no further action required with respect to updating information relative
to the CARES Act. Please be aware, MassMutual will process participant distributions with the
information in our record keeping systems, including but not limited to current status and
vesting information unless otherwise changed by the Plan Sponsor or Third Party Administer (if
applicable).

19. Under the CARES Act, will additional loans to a Qualified Individual be allowed if
they have already met the maximum # of outstanding loans? If the loan limit
expansion will not be automatic, what will the Sponsor be required to do to inform you
of their intentions?

Loan provisions or additional outstanding loans will not be automatically added. If the plan
wishes to add loans or increase the number of outstanding loans permitted, they will need to
amend their plan, and should work with their MassMutual representative or TPA to do so. In
lieu of increasing the number of outstanding loans, and, in the event the participant has
already taken a maximum number of outstanding loans, the current outstanding loan may be
repaid to enable the ability to take another loan. The amount available for the loan in such
case will be determined by existing loan availability calculations, with the total amount
available now increasing to the lesser of $100,000 or full vested account balance of the
Qualified Individual.

20. If my plan only allows distributions from specific sources, what money sources
will be used for processing the CRD’s?
The CRD payments will use all existing and active plan sources (exception of Money Purchase
sources) and will be applied pro-rata across those sources. Example, if current in-service
withdrawals can only be distributed from elective deferral, CRDs may be distributed from
elective deferrals and company match sources, if applicable.

P a g e | 8 | RS-49007-00
This document is intended for Plan Sponsor and Third-Party Administrator use only. Not intended for Participant
use.
insurance companies
Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001,and it affiliated US