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Payment Protection Program: An Existential Threat to Business Owner Retirement and What to Do About It

Payment Protection Program: An Existential Threat to Business Owner Retirement and What to Do About It

In this time of unprecedented economic stress, many businesses are turning to Payment Protection Program (PPP) loans—a part of the new CARES Act—as relief for flagging profits. But Steve Parrish, co-director of the New York Life Center for Retirement Income, warns these loans are just as likely to harm some businesses and their owners as help them without careful planning.

In his latest Forbes column, Parrish discusses why PPP loans can threaten business owners’ retirement plans, as well as some strategies to navigate the many strings attached. Read more now.

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