General Company News
COVID-19 FAQs for Employee Benefit Plan Participants and Beneficiaries
The U.S. Department of Labor recently published a complete Q&A to help employee benefit plan participants and beneficiaries impacted by the COVID-19 outbreak. This provides valuable information for employees who may be losing their coverage as a result of the...
Coronavirus Stimulus Package – New Funding for Paycheck Protection Program Loans
Small-business owners who tried to apply for the Paycheck Protection Program (“PPP”) but were shut out when initial funding from the CARES Act dried up, need to submit their applications now, if they haven’t already. The PPP received new funding today when President...
Coronavirus Stimulus Package – Paycheck Protection Program Loans Revisited
If you’re a business owner and you were shut out from applying for or receiving a loan from the Paycheck Protection Program (“PPP”), complete your application now and have it ready to file. In fact, check with your lender to see if they are accepting applications in...
Coronavirus Stimulus Package – Related Tax Credits for Required Paid Leave
On Friday, April 17, the IRS released guidance in the form of frequently asked questions with regard to refundable tax credits, authorized by the Families First Coronavirus Response Act enacted on March 18, 2020. The credits provide funds to small- to medium-sized...
Coronavirus Stimulus Package – Paycheck Protection Loans Available Now
April 3 is the opening day for small businesses to apply for the Paycheck Protection Loans (“PPLs”), authorized by the CARES Act, through authorized Small Business Administration (“SBA”) lenders. Remember, that these are loans that may be forgiven if certain...
IRS Guidance on Employee Retention Credits
Many of our small business owners, as well as their employees, have been adversely impacted by COVID-19. The CARES Act promises incentives and relief for keeping workers on the payroll during these tough times. The IRS recently issued guidance in the form of questions...
Coronavirus Stimulus Package – IRS Information on Economic Impact Payments
Much of America is anxiously awaiting the assistance promised by the CARES Act, in particular the individual rebate payments (officially called the economic impact payments). The IRS recently issued guidance in the form of questions and answers about these payments,...
The Stretch IRA and the SECURE Act
(Binghamton, NY • March 13, 2020) The SECURE Act, signed into law on December 20, 2019, offers much to IRA and 401(k) investors: Required Minimum Distributions (“RMDs”) delayed until age 72; elimination of the age limit for contributions to a traditional IRA, and...
Security Mutual Life Announces Company’s 2019 Results
(Binghamton, NY • February 21, 2020) Security Mutual Life recorded strong sales, earnings and capital growth in 2019, further enhancing the Company’s financial strength. Highlights of the past year include: Dividends: 127 consecutive years of paying dividends to...
Security Mutual Goes Red for Heart Health
February is American Heart Month, and together with people and companies throughout the United States, Security Mutual employees are wearing red and taking steps to improve heart health. “We are honored to be part of American Heart Month,” said Security Mutual...
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