American Rescue Plan Act: Key Provisions Affecting Employers, Employees, and Benefit Plans
President Biden signed the American Rescue Plan Act of 2021 (“ARPA”) on March 11, 2021. The $1.9 trillion legislative package is the latest installment of COVID-19-related stimulus packages. Like the earlier Families First Coronavirus Response Act (“FFCRA”) and the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), ARPA contains several provisions affecting employee benefit plans, paid sick and family leave, payroll tax credits, and federal unemployment benefits. These provisions are summarized below.