NADA – The NADA Retirement Program from Empower will waive fees on all new retirement plan loans and hardship withdrawals to support dealerships and their employees’ financial needs resulting from the COVID-19 outbreak. Origination fees on any new loans and charges for all hardships will be waived until further notice. These changes cover all tax-qualified workplace retirement plans in the program in accordance with plans that permit such distributions, and includes new provisions allowed under the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic downturn in the financial markets may foretell high levels of demand for loans and hardship withdrawals over the next several months. The team at NADA Retirement from Empower is prepared to be both responsive and proactive regarding employer and employee 401(k)-related concerns.
NADA Retirement Program Waives Fees for Loans and Hardship Withdrawals
The NADA Retirement Program from Empower will waive fees on all new retirement plan loans and hardship withdrawals to support dealerships and their employees’ financial needs resulting from the COVID-19 outbreak.
The NADA Retirement Program from Empower will waive fees on all new retirement plan loans and hardship withdrawals to support dealerships and their employees’ financial needs resulting from the COVID-19 outbreak.
Originally posted on Auto Dealer Today
More Opinion
Combative UAW Demands Leave No Room For Constructive Negotiations
Compensation for workers' contributions during the panedmic is justified but not at this level.
Read More →
Curing Your COVID Hangover
It’s time to get re-connected with our customers and stay there.
Read More →
Uber Doubles Q2 Revenue
The company saw revenue more than double to $8.1 billion as customers continued to hail rides and order takeout food.
Read More →
Study Finds Gen-Z Car Shoppers Spend More Time Researching and Find Purchase Process More Difficult Than Older Generations
Gen Z shoppers report they experience more problems compared to Baby Boomers, including 45% of Gen Z frustrated with waiting on a salesperson and 52% with additional fees.
Read More →
The Remote Evolution In F&I
F&I profits have consistently increased since my departure from “the box” — and it’s all happening in conjunction with my fuzzy slippers.
Read More →
LMP Automotive Holdings Receives Notification of Deficiency from Nasdaq
The Nasdaq notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.
Read More →
Auto Experts Weigh in on the Semiconductor Shortage
Experts suggest automakers focus their attention on the user experience and greater collaboration as they content with limited semiconductor chip supplies.
Read More →
LMP Automotive Holdings Announces its Board of Directors Approved an Immediate Pursuit of Strategic Alternatives
The Company intends to terminate all of its pending acquisitions in accordance with the terms of their respective acquisition agreements, primarily due to the inability to secure financial commitments and close within the timeframes set forth in such agreements.
Read More →
Blockade of Ambassador Bridge Costs Auto Industry Millions
Total losses add up to $300 million, with a $155 million hit to automakers and $145 million in lost direct wages.
Read More →
8 Ways Small Dealers Can Compete With Big Franchises
The digitization of the auto retail and finance industry has helped level the playing field for dealers who are willing to invest in new tools — no matter your size or location.
Read More →