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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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.
It changed the rolling 50k loan for 5 year loan up to 100k up to a 6 year loan
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.
We can already take three loans without penalty, though. The Cares Act is for withdrawals.