Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

July 23, 2020

Are pension payments also restricted to $100,000?

Posted by Armanino Financial Advisory Team

No. The only place where there is a $100,000 cap is on annualized gross salary or wages, which means a maximum of $15,385 if the borrower chooses an eight-week covered period or $46,154 for a 24-week period. The employer’s portion of pension payments and other retirement benefit payments, along with health insurance benefit payments, may also be forgiven in total regardless of the employee’s gross salary.

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