"The CARES Act does not change when a distribution may be made to a DB participant. The short version is that lump sum distributions to terminated vested participants are allowed, subject to participant ... consent where the present value of the benefit is greater than $5,000. For other participants, including those 'furloughed' (but not permanently 'separated from employment') by the sponsor in the Coronavirus crisis, active employees over age 59-1/2, and retirees, the answer is more complicated[.]"  MORE >>