Q. Do the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act COVID-19 distribution provisions apply to 457(b) plans?
A. The COVID-19 distribution provisions apply to governmental 457(b) plans; however, they do not apply to private tax-exempt 457(b) plans. In addition, 457(b) plan distributions are not subject to a 10% penalty for an early distribution, even if they are not due to the pandemic.
Recent Comments
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