Latest Breaking News On - Coronavirus hardship retirement account loan - Page 1 : comparemela.com

Channel3000.com December 16, 2020 8:30 AM Emily Guy Birken - Forbes Advisor Posted: Updated: December 18, 2020 7:37 AM Signed into law on March 27, 2020, Congress created the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide financial relief to Americans suffering from the economic fallout of Covid-19. Several of the more high-profile retirement provisions of the CARES Act have expired including stimulus checks, supplemental weekly unemployment benefits and the suspension of federal student loan payments. But there are still a few important CARES Act benefits that you can take advantage of before the end of 2020. Covid-19 Early Retirement Account Withdrawals The CARES Act eliminates the 10% withdrawal penalty for qualified retirement account holders who have a valid Covid-19-related financial hardship. It allows them to withdraw up to $100,000 from their tax-deferred retirement accounts, or taxable earnings in a Roth account, in 2020.

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