If you have been directly impacted by the COVID 19 and meet specific qualifications, you may be eligible for special loan or withdrawal options from your 401k. The CARES ACT allows for penalty and tax free loans or withdrawals from your 401k. You may even qualify for a higher loan amount. These special withdrawal provisions expire 12/31/2020 and loan options expire 9/22/2020.
For more information, please contact Retire Ready Tennessee and speak with a 401k representative: 1-800-922-7772. You may also read more information online: CARES ACT Relief Program.