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COVID relief

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
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