CARES Act Eligibility Question

[Stash026]

I apologize if this has been asked before, but has it been established that if a spouse gets furloughed/loses hours a participant falls under the "adverse financial consequences" to determine eligibility for the in-service distribution/loan under the CARES Act?

Thanks everyone!

[RatherBeGolfing]

38 minutes ago, Stash026 said:

has it been established that if a spouse gets furloughed/loses hours a participant falls under the "adverse financial consequences" to determine eligibility for the in-service distribution/loan under the CARES Act?

No

[Larry Starr]

3 hours ago, Stash026 said:

I apologize if this has been asked before, but has it been established that if a spouse gets furloughed/loses hours a participant falls under the "adverse financial consequences" to determine eligibility for the in-service distribution/loan under the CARES Act?

Thanks everyone!

Not yet, but I will bet that it will definitely be an allowable situation under this part of the law: 

* Who has experienced adverse financial consequences due to other COVID-19-related factors to be specified in future IRS guidance.