Coronavirus Aid, Relief, and Economic Security (CARES) Act FAQ

On March 27, 2020, the President signed a $2 trillion relief package entitled the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act is intended to provide "emergency assistance and health care response for individuals, families and businesses affected by the 2020 coronavirus pandemic." This frequently asked questions (FAQ) is intended to address CARES Act provisions related to individual financial assistance to help individuals withstand the harsh impact of COVID-19. IMPORTANT: Before considering or acting on any of the information included in this FAQ, individuals are advised to seek qualified counsel from their legal, tax and/or financial advisors. If I am experiencing a dire financial need as a result of the COVID-19 pandemic, is there a way for me to access funds in my retirement accounts? Potentially, yes. As it relates to your employer-sponsored retirement plan, there may be two provisions available to "qualified individuals": Coronavirus-related distribution (CRD): IF you are a