Tag: COVID
$2.0 trillion(enacted March 27, 2020) Summary Prepared by the Center for Retirement Research at Boston College Defined Contribution Plans Early Distributions Prior law: Individuals who receive early distributions from a retirement savings plan before age 59½ generally pay a 10-percent penalty, in addition to income taxes. 20 percent of the distribution is withheld for tax…
$192 billion(enacted March 18, 2020) Summary Prepared by the Center for Retirement Research at Boston College Emergency Paid Sick Leave The government will fully reimburse (through tax credits) employers, with less than 500 employees, for the cost of providing eligible workers up to two weeks of emergency paid sick leave.1Workers are eligible if they ar…