401(k) Defaults Linked with Lower CARES Act Withdrawals

401(k) Defaults Linked with Lower CARES Act Withdrawals

The American College of Financial Services
November 24, 2020

Many financial professionals agree one of the benefits of the CARES Act of 2020 has been the ability of 401(k) plan participants to take early withdrawals without penalty in order to compensate for income shortfalls in other areas. However, experts also say higher instances of early withdrawals are symptoms of greater problems in financial planning, such as Americans’ lack of emergency savings and low participation in managing their own money.

Read a full report of the subject, with expert takes from our WMCP® faculty members Michael Finke and David Blanchett, in this article from InvestmentNews.

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