April 1, 2020
To Our Friends and Valued Clients:
Late last week, the U.S. Congress passed, and President Donald Trump signed into law, a $2 trillion economic stimulus package called Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).
The legislation makes temporary changes to unemployment insurance, helps both small businesses and hard-hit industries, and includes other relief provisions.
There are also a number of provisions in the Act that relate to retirement planning. Notably, the Act temporarily waives the required minimum distribution (“RMD”) rules for 2020 with respect to certain defined contribution plans and IRAs, as well as the ability to return current-year distributions already made.
There are also provisions which allow early withdrawals without penalty from qualified retirement retirement plans.
We encourage you to consult with your Kelly Financial Services advisor to see how these changes directly impact your individual circumstance.
We also invite you to join us for our weekly conference call.
This Friday we will address the RMD matter as well as review with you certain other provisions in the Act that will be of interest to you and will likely affect you, too.
To join, please refer to the call information below.
: Market Volatility Update
: Friday, April 3, 2020
: 4:00pm – 4:30pm
: Ward Johnson, Certified Financial Planner, and
Kelly Financial Services Investment Advisor
: Call Number: 872-240-3412, Access Code: 774-812-989
Click on this link for Our Conference Call
We look forward to your joining us as we continue navigating these unsettling times together.
President & Chief Executive Officer