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401K and Pension -Defined Benefit Plan

Can we do PPP-1 Amendment: We wish to add in PPP-1 Defined Benefit, please reference question seven on page three of following FAQ:

Paycheck Protection Program Loans Frequently Asked Questions (sba.gov)

The CARES Act excludes from the definition of payroll costs any employee compensation in excess of an annual salary of $100,000. Does that exclusion apply to all
employee benefits of monetary value?
Answer: No. The exclusion of compensation in excess of $100,000 annually applies only to cash compensation, not to non-cash benefits, including:
• employer contributions to defined-benefit or defined-contribution retirement plans;
• payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums; and
• payment of state and local taxes assessed on compensation of employees.



  • Brian_SBMBrian_SBM Vice President, Entrepreneurship Administrator admin

    @greencal I'm not sure of the question. If you would like to amend your first PPP loan, then I would suggest contacting your PPP lender. We are not a PPP lender, nor do we represent the SBA.

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