Are COVID withdrawals a way to get funds out of my costly 401(k)?
Updated Feb 16, 2021;
Q. If I took a COVID withdrawal from my 401(k), I know there is no income tax due if it’s paid back to a qualified retirement account within three years. Is it correct that I don’t have to pay it back to my 401(k), which has horrendous fees? I’m thinking this could be a strategy to get the funds into an IRA. Investor
Let’s go through how this all works.
Penalty-free distributions taken from qualified accounts under the CARES Act needed to be taken by Dec. 31, 2020 and only qualified individuals were eligible to take them.
Can part-time workers get Family Leave when someone dies?
Updated Feb 11, 2021;
Q. Are part-time workers entitled to Family Leave when a death occurs in the family? I’m a part-time worker and my supervisor didn’t give me any time off when my father died from the coronavirus. I have to use my accumulated paid time off instead. Prior to COVID-19 I’ve worked an average of 30 hours biweekly
. Grieving
A. We are very sorry to hear of the loss of your father.
The Family and Medical Leave Act (FMLA) allows certain employees to take reasonable unpaid leave for certain family and medical reasons.