The CARES Act loosens the rules on taking a distribution from 401(k) plan accounts. The CARES Act loosens the rules on taking a distribution from 401(k) plan accounts. (Shutterstock)

During the first quarter of 2020, average household retirement savings in the U.S. dropped by more than 4%, and additional savings hits are expected as the COVID-19 pandemic continues to play out, according to Forbes and the American Enterprise Institute.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

C.J. Marwitz

C.J. Marwitz is a writer and editor.

Agency Management
Personal Lines
Workers' Comp