penalty free Archives - Marketplace

Support the fact-based journalism you rely on with a donation to Marketplace today. Give Now!

COVID-19

Few people are tapping 401(k)s, even without withdrawal penalties

by Samantha Fields

Nov 12, 2020

The CARES Act made it easier to get money out of retirement savings early. But that only helps people with enough cushion to have a 401(k).

At Vanguard, 4.5% of people had taken a coronavirus-related distribution as of the end of September.

Johannes Eisele/AFP via Getty Images

LISTEN

EMBED

SUBSCRIBE