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Pros and Cons of Taking Coronavirus-Related Distributions from Retirement Savings Thumbnail

Pros and Cons of Taking Coronavirus-Related Distributions from Retirement Savings

The CARES Act relaxed certain provisions around withdrawals and loans from 401(k) plans due to the economic severity brought on by the pandemic. Many lessons will be learned from the COVID-19 crisis. One positive impact this pandemic may have within your workforce is the importance of financial wellness. A good program can help employees manage expenses, budget, set financial goals and priorities, while encouraging them to establish a 3 to 6 month emergency savings.

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