Eligibility
A participant may be eligible to access their Plan Accounts under the CARES Act if the participant (1) was diagnosed with COVID-19, (2) has a spouse or dependent that is diagnosed with COVID-19, or (3) has experienced difficult financial consequences as a result of being quarantined, furloughed, laid off, having hours reduced or being unable to work due to lack of child care due to COVID-19.
If an active participant meets one or more of the conditions listed above, the participant may be eligible to elect a Coronavirus Related Distribution or be eligible for certain loan relief. In addition, there is temporary relief for Required Minimum Distributions.