Tag: COVID
$484 billion(enacted April 24, 2020) Summary Prepared by the Center for Retirement Research at Boston College Small Business Loans Two programs that are providing emergency loans to small employers (500 or fewer workers) during the pandemic are receiving new funding to replenish their depleted coffers. The Paycheck Protection Program (PPP), recently created by the CARES…
$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…
