CARES Act Includes Relief for Retirement Account Owners
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. Notably, several provisions of the CARES Act deal with retirement accounts and offer relief to retirement account owners and/or beneficiaries in a variety of ways.
Bland Garvey is providing a Frequently Asked Questions (FAQ) document that summarizes some top-of-mind questions you may have about this aspect of the new law, as well as provide an understanding of Coronavirus-Related Distributions and how they could impact you.
To read the entire FAQ Click Here
Please be aware that some custodians allow clients to setup automatic Required Minimum Distributions (RMD). Please contact your financial advisor or financial institution if you want to stop your RMD for 2020. For clients of Bland Garvey Wealth Advisors, this does not apply since we do not have automatic RMD instructions on file with Schwab Institutional.
We understand that navigating the new rules and regulations can be overwhelming. Bland Garvey is available to guide you and your retirement plan. If you have questions contact us.