CARES Act 2020: Retirement Fund Access & Student Loan Relief
The over $2 trillion CARES Act has a number of favorable provisions for students and seniors, but most specifically related to required minimum distributions (RMDs) and loans from a 401k plan. Below are four things to know, as put together by the FINRA staff of The Motley Fool. Click here for more details on each.
1. Temporary Waiver of Required Minimum Distributions for Certain Retirement Accounts
2. Temporary Waiver of Early Withdrawal Penalty for a Coronavirus-Related Distribution from Retirement Accounts
3. Temporary Increase in Amount for Retirement Account Loans.
4. Relief for Student Loan Borrowers