Coronavirus Relief for Retirement Plans and IRAs

Reminder: Required Minimum Distributions aren’t needed for 2020 for most plans. For more info, check out this article shared from the IRS.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act makes it easier for you to access your savings in Individual Retirement Arrangements (IRAs) and workplace retirement plans if you’re affected by the coronavirus. This relief provides favorable tax treatment for certain withdrawals from retirement plans and IRAs, including expanded loan options.