Bates & Company, Inc.
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Compass
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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COVID-19 Withdrawals: Why Plans Shouldn't Allow Them
Lawton Retirement Plan Consultants Apr. 27, 2020 "These CARES Act withdrawal provisions were enacted with good intentions. However, taking advantage of them will generally not be in most participants' best interest.... [1] Savings are likely permanently removed ... [2] The impact of withdrawals likely is devastating ... [3] Bankruptcy protections should be considered ... [4] Shares are likely to be sold at a loss ... [5] Enhanced unemployment compensation is available ... [6] This is a temporary situation ... [7] You can always change your mind." |
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