On Thursday, March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law after the bill was passed by the 117th Congress of the United States. The ARPA promises $1.9 trillion in federal spending for COVID-19 relief, including significant changes to employer-provided benefit plans. Below is an overview of these changes to COBRA, dependent care assistance, and retirement plans that employee benefit advisors, plan advisors and plan sponsors need to know.
