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CARES Act provides for hardship retirement plan withdrawals

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes provisions for coronavirus related hardship withdrawals from retirement plans, as well as other intended benefits.

Ordinarily, if you take a hardship withdrawal from a retirement plan, it permanently reduces the retirement savings balance. The CARES Act provides significant, temporary relief from these provisions. See the July 2 edition of the Mount Vernon Optic-Herald for the rest of this story.