, 401K Options After a Job Loss


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401K Options After a Job Loss

The CARES Act waives the 10% early withdrawal penalties on 401(k) plans, giving some account owners up to three years to replace what they take out of their 401K.

Few life events are more stressful than a job loss.

If you or someone you know is in this situation due to COVID-19, you’ll likely have several questions about job hunting, unemployment insurance, and health care. You may also be wondering, “What should I do with my 401(k)?”

People leaving an employer typically have four options with their 401(k) retirement plan, but it’s not an all-or-nothing decision. Depending on your situation, it may be possible to engage in a combination of these options:

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