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Dealing with COVID-19's massive impact on employers, employee benefits, 401(k) and pension plans, health insurance, and more.

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Some Americans could hit snags getting stimulus cash, planner says

Jeff Levine of Kitces.com and Buckingham Wealth breaks down the details of how direct payments and RMD waivers work in the stimulus bill.

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The $2.2 trillion, 883-page Coronavirus Aid, Relief, and Economic Security (CARES) Act passed last week, and among numerous other provisions, the bill provides direct payments for most Americans. But the government could hit some bumps in its efforts to distribute the payments, according to planner Jeff Levine.

Before the bill was passed and signed on Friday, Levine — lead “financial planning nerd” for Kitces.com and director of advanced planning for Buckingham Wealth Partners — tweeted away on what’s in the mammoth legislation, including details on how the payments would work and the waiver of required minimum distributions from retirement accounts for 2020.

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Janet Levaux

Janet Levaux, MA/MBA, is Editor in Chief of ThinkAdvisor & Investment Advisor. She's covered the financial markets since 1991 and advisors since 2005. Janet studied at Yale, Johns Hopkins SAIS and St. Mary's College of California. She's also lived and worked in Asia, Europe and Latin America, raised two sons, and won a Neal Award for top news coverage in 2020.

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