CARES Act

CARES Act – taking a distribution

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) allows for a new type of distribution from a retirement plan referred to as a “coronavirus related distribution”. The distribution may be up to $100,000 and must take place between March 27, 2020 and before December 30, 2020. Your employer has elected to offer these distributions for plan participants that meet the specific eligibility requirements of the Act.

To review the eligibility requirements and request approval for a coronavirus related withdrawal, login to planwithease.com. You will use your CPS.Plan4Retirement.com login credentials to sign in. Select Request Transactions – Loans and Withdrawals and choose the “Coronavirus Related” option from the Withdrawals section.

CARES Act – taking a loan

The Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") allows for a new type of distribution from a retirement plan referred to as a "coronavirus related distribution". Your employer has elected to offer these distributions for plan participants that meet the specific eligibility requirements of the Act. From March 27, 2020 through September 22, 2020 you are eligible to take a coronavirus-related loan up to the lesser of $100,000 (taking into account the outstanding balance of all other loans taken from plans of your employer) or 100% of the non-forfeitable value of your account under the plan if you meet one of the eligibility requirements.

To review the eligibility requirements and request approval for a coronavirus related loan, login to planwithease.com. You will use your CPS.Plan4Retirement.com login credentials to sign in. Select access Request Transactions – Coronavirus Related Loans.