By Kathy Odle, Kirsten Stewart, and George Tsai

CARES Act makes sweeping changes to the withdrawal and loan provisions of 401(k) and other retirement plans (and IRAs) for individuals needing access to their retirement funds to deal with the financial burdens associated with COVID-19. The easing of taxation, penalties, and limits on withdrawals and loans for COVID-19 related expenses will provide significant help to individuals in financial need due to COVID-19.

Read the full advisory here.