03.27.20
Retirees Get Relief in Senate Coronavirus Stimulus Package
by: Anne Tergesen
The Senate's coronavirus-relief bill that passed Wednesday night includes breaks for Americans whose retirement accounts have been hit by the stock-market meltdown. Provisions in the legislation raise the limits on 401(k) loans and loosen the rules on hardship distributions from retirement accounts. The financial services industry pushed for the relief measures for retirement accounts, which held about $20 trillion in assets as of December 31, according to data from the Investment Company Institute.. The House is expected to pass the package today.
Read the full article on Wall Street Journal