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CARES Act Myths: Loans and Distributions
Cammack Retirement Group Link to more items from this source
Apr. 30, 2020

"[M]any participants are under the impression that the new loan and distribution provisions are available to everyone, as is the ability to delay loan payments due in 2020. However, in reality, all of the expanded loan and distribution provisions, including the ability to delay 2020 loan repayments, are only available to qualified individuals affected by COVID-19.... While the CARES Act allows participants to delay loan repayments due between March 27 and December 31 by a full year, there is nothing that indicates that 2021 loan repayments would be similarly delayed.... [P]lans appear to have the option to allow RMDs to be taken."

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