ABSTRACT

Withdrawals and Loans from Retirement Accounts for COVID-19 Expenses [Updated March 27, 2020]   [open pdf - 517KB]

From the Document: "The economic repercussions of COVID-19 [coronavirus disease 2019] could reduce Americans' economic security; in response, individuals may view their retirement accounts as a source of funds to help meet current expenses. They may be able to withdraw from their defined contribution (DC) retirement accounts (such as 401(k) plans, 403(b) plans, and the Thrift Savings Plan (TSP)) or from their traditional or Roth Individual Retirement Accounts (IRAs). In addition, DC plans may allow participants to borrow from their accounts."

Report Number:
CRS In Focus, IF11472
Author:
Publisher:
Date:
2020-03-27
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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