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Vanguard calculates cost of COVID Distributions

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The CARES act allowed 401(k) participants easier access to their account balances,m during the coronavirus pandemic.

401(k) investors pulled a median of $12,000 from their account in the form of a “coronavirus-related distribution,” according to a new Vanguard review of their clients’ data.

Only 4.5% of Vanguard 401(k) investors took a coronavirus distribution between March and September, which equates to almost 187,000 participants available to about 4.2 million of their 401(k) participants.

 

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