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Employee Benefits Syracuse NY Insurance, Retirement Specialists in Syracuse NY

June 10, 2020

Paycheck Protection Program Flexibility Act (PPPFA) Signed

For employers struggling with how to use the funds from their PPP loan, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law on June 5th, 2020. It includes an extension of the amount of time allowed to use the funds and requires a smaller percentage to be used for payroll in order to have the loan forgiven. Additional details

May 28, 2020

New York Forward Loan Fund for Small Businesses

New York now has loans available for those small businesses that did not get Federal aid through the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loans (EIDL) for COVID-19 in 2020. Eligible businesses have fewer than 20 full-time equivalent (FTE) employees, and the loans are paid back over a 5 year term. Additional details

May 18, 2020

NY Forward Business Reopening Look-up Tool

To see if your business qualifies for reopening, use this link to enter your county and business category.

May 7, 2020

Employee Benefit Plan Deadline Extensions: COVID-19 Relief

In response to the national emergency due to the COVID-19 pandemic, the Department of Labor announced on May 4th, 2020 a ruling extending deadlines related to employer group benefit plans. Plan Sponsors and employers have extensions to provide some of the required notices, and plan participants/beneficiaries have extended deadlines including Federal COBRA election/premium payments, special enrollment periods, and disability claims. Additional details

May 7, 2020

New York Reopening: Additional Guidelines

Gov. Cuomo announced additional guidelines that each region of the state must meet before they can reopen. He also listed safety precautions that businesses should implement to minimize the spread of the coronavirus.

April 28, 2020

New York Reopening Plan: Regional and Phased

On April 26th, 2020 Governor Cuomo announced a plan to reopen New York in three phases beginning with construction and manufacturing. The plan will consider regional differences in COVID-19 infection rates and whether businesses are “more essential” and “lower risk.” Additional details

April 24, 2020

President Signs Relief Bill

On April 24, 2020, the President signed legislation providing additional relief for businesses affected by the COVID-19 pandemic. Small businesses, hospitals, and testing are the 3 areas receiving funding. Additional details

April 22, 2020

New COVID-19 Relief Package Expected Soon

The Senate has passed legislation to provide additional funding for relief from the effects of the coronavirus, and the House of Representatives is expected to vote on it Thursday, April 23rd. This package focuses on support for small businesses, hospitals, and expanded testing for COVID-19.

Additional details

April 16, 2020

New York State on PAUSE Extended to May 15th

On April 16th, 2020, Governor Cuomo extended the New York State on PAUSE executive order for 2 additional weeks. The 10-point policy closing schools and non-essential businesses and encouraging social distancing will continue through May 15th, 2020. Additional details

April 16, 2020

Notice to All Life Insurance Policyholders

An executive order issued by Governor Cuomo on March 7th, 2020 gives all life insurance policyholders an extended grace period to pay premiums if they demonstrate financial hardship due to the COVID-19 pandemic. Other rights are included in the order which requires insurance carriers and brokers to provide notice of these rights. Required notice and additional details

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