Thread regarding Anthem Inc. layoffs

Cares act for 401k

Has anyone else noticed that Anthem did not opt in to the cares act for our 401k? A lot of families have lost income but they are not opting in for the withdrawal or higher loan amount/time to repay. Yes I verified with Vanguard that Anthem did not opt in as of last week. Just not right with everyone hurting

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Post ID: @OP+14HA85dT

4 replies (most recent on top)

I kept my 401k with my former co and was able to withdrawal penalty free. I’m glad because my husband is out of work because of covid. I hate our vanguard 401k.

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Post ID: @fjjx+14HA85dT

It changed the rolling 50k loan for 5 year loan up to 100k up to a 6 year loan

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Post ID: @1vwu+14HA85dT

Tons of red tape goes along with opting in for any part of the CARES Act, and that red tape can hamstring a company, and its employees, for years down the road. As much as I hate to say it, they were more than likely right in not opting for it.

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Post ID: @1rze+14HA85dT

We can already take three loans without penalty, though. The Cares Act is for withdrawals.

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Post ID: @1bag+14HA85dT

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