CARES Act changes 401K loan rules
In response to the COVID-19 pandemic, Congress issued the CARES Act, which expands eligibility and alters the regulations regarding 401(k) loans. The CARES Act allows you to borrow 100% of your account balance up to $100,000 (less any previously outstanding loans), which is a significant increase from the $50,000 limit prior to the act. Currently, …