Coronavirus-Related Loan Relief
URS has incorporated provisions of the CARES Act to allow savings plan loan payments to be deferred until December 31, 2020.
To qualify, you must:
- Be diagnosed with COVID-19 by a test approved by the CDC;
- Have a spouse or dependent diagnosed with COVID-19 by a test approved by the CDC; or
- Experience adverse financial consequences as a result of: (1) being quarantined, furloughed, or laid off, or having work hours reduced due to COVID-19; (2) being unable to work due to lack of child care due to COVID-19; (3) being unable to work due to closing or reducing hours of a business you own or operate due to COVID-19; or, (4) other factors as determined by the Secretary of the Treasury.
Deferring payments will extend the term of the original loan by the time period corresponding to the number of delayed payments.
The loan will be re-amortized, and loan payments will resume at the increased re-amortized amount by April 2021 and in accordance with IRS rules and guidance.
Download the Coronavirus-Related Loan Relief Form at myURS (forms).