COVID-19 CARES Stimulus IRA Information
What is the CARES (Caronavirus Aid, Relief and Economic Stimulus) Act?
The CARES Act, otherwise known as the Coronavirus Aid, Relief and Economic Stimulus Act, is a massive federal stimulus package designed by Congress to provide aid and assistance to individuals and businesses as the country deals with the international coronavirus pandemic. The CARES Act was enacted on March 27, 2020.
CARES Information for IRA Retirement Plan Participants
The CARES Act also includes several provisions that make temporary changes to the federal laws governing IRAs and workplace retirement plans (e.g., 401(k) plans) in an effort to provide greater financial flexibility for individuals throughout the country as they wrestle with the numerous hardships created by the international coronavirus pandemic. See full CARES IRA Retirement Document and CARES IRA FAQ Document.