Stimulus Ekonomi Serius Dapat Mempengaruhi Dana Pensiun Anda

30 Apr 2020Military.com | Oleh Jim Absher

Undang-Undang Bantuan Koronavirus, Bantuan, dan Keamanan Ekonomi (CARES) memberikan banyak manfaat ekonomi bagi warga dan bisnis yang dirancang untuk membantu kesejahteraan ekonomi rakyat dan bangsa. Sementara semua orang tahu tentang cek stimulus yang disahkan sebagai bagian dari undang-undang, beberapa ketentuan yang kurang diketahui dapat mempengaruhi dana pensiun Anda.

Untuk memenuhi syarat untuk setiap perubahan baru pada undang-undang ini, Anda harus “terpengaruh secara pribadi” oleh wabah COVID-19. Ini mungkin berarti bahwa Anda, atau anggota keluarga dekat Anda didiagnosis menderita penyakit tersebut; atau Anda telah dilecehkan, diberhentikan, memiliki jam kerja dikurangi atau status pekerjaan Anda sangat terpengaruh oleh pandemi.

Beberapa ketentuan dalam undang-undang CARES membuat perubahan pada cara Anda dapat menarik uang dari Individual Retirement Account (IRA) Anda, rencana pensiun yang disponsori oleh perusahaan 401k atau akun Thrift Savings Plan (TSP) Anda , yang merupakan rencana 401k untuk pegawai pemerintah federal termasuk anggota militer.

While almost every financial expert strongly advises against taking money out of your retirement fund before retirement, there may be situations where you have no other choice. Just remember, if you are considering a 401k or TSP withdrawal or loan you should only use it as your last resort.

Exclusion of Required Minimum Distributions (RMDs) for 2020

When you reach your early seventies you are normally required to take a certain amount out of your 401k, TSP, or IRA each year or be hit with a penalty from Uncle Sam.

Language in the CARES act effectively did away with that requirement for this year. So, if you are old enough, have enough money to get by on and don’t want to take money out of your retirement savings, you don’t have to this year. This could effectively give you a big tax break.

Extension of Rollover Time Limit

If you want to transfer money from one retirement fund to another you now have longer to do it.

Prior to the CARES act you had 60 days after withdrawing money from your 401k plan to deposit it into another qualified retirement plan. You would normally only do this if you changed employers or found a better plan and wanted to switch.

Under previous rules, if you didn’t redeposit the money within sixty days you were hit with a penalty of 10% of your withdrawal payable to Uncle Sam and on top of that you had to pay taxes on the entire amount.

The new law did away with the 60 day deadline and says that you have until July 15 to reinvest any withdrawals made between Feb. 1 and May 15.

Elimination of Early Withdrawal Penalty

Another provision of the CARES act eliminated the 10% early-withdrawal penalty and the 20% federal tax withholding on all early withdrawals from your retirement account.

If you are younger than 59 years and six months and take money out of your retirement account it is considered an “early withdrawal.” You are limited to a maximum withdrawal of $100,000 under this provision.

While your tax liability is different for withdrawals from a traditional retirement plan and a Roth retirement plan, the penalties have been removed from both. The new law also lets you spread out your tax liability on any early withdrawals over three years instead of hitting you with the entire tax bill in the year you take money out.

Expansion of Loan Limits

Jika Anda ingin mendapatkan pinjaman dari akun 401k atau TSP Anda, pinjaman maksimum yang bisa Anda dapatkan telah meningkat dari $ 50.000 menjadi $ 100.000. Juga, jika Anda memiliki pinjaman yang ada, Anda mungkin berhak untuk menunda pembayaran hingga satu tahun.

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