CARES Act distributions unlikely to be paid back, report finds

Most people who have taken emergency withdrawals from their 401(k) plans amid the pandemic do not plan to repay their accounts, according to a report published this week.That will likely have a lasting effect on retirement savings for those workers, nearly 70% of whom said they will not pay back any portion of the distributions they took under the CARES Act, according to data from Principal Financial Services. Just 13% of people who took such distributions said they plan...
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