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Less than 5% of Americans have made early withdrawals from their retirement accounts during the COVID-19 crisis, according to a poll of plan sponsors by investment consulting firm NEPC, LLC.
Despite the low number of early withdrawals, about half (49%) of the plan sponsors who responded said that they do expect CARES Act related distributions to increase at least somewhat in the remainder of 2020.
And although 68% said they believe the current climate emphasizes the need for retirement plans that guarantee at least some level of return, 90% feel that their current menu of offerings is sufficient to withstand the financial crisis resulting from the pandemic.
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