Key Provisions of the CARES Act
Submitted by Alloy Silverstein Financial Services, Inc. on April 1st, 2020Distributions can be waived in 2020 for Inherited Accounts, 401(k)s, and IRAs.
Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.1
To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.1