The Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020 was signed into law in late March. The CARES Act provides federal support in the wake of the coronavirus pandemic and associated economic fallout.
The Department of Retirement Systems has posted information on two CARES Act-related items that might impact certain DRS customers:
- Requesting a coronavirus-related distribution
- Waiver of required minimum distributions for Plan 3 & Deferred Compensation Programs
Please note that qualifying conditions and restrictions apply. For more information on these and other resources, see DRS’ response to COVID-19.