HAS COVID-19 IMPACTED YOUR RETIREMENT CONFIDENCE?
A June survey conducted by the Transamerica Center for Retirement Studies found that 23% of workers, both unemployed and employed, are no longer certain they can retire comfortably following the COVID-19 pandemic. And, due to the CARES Act, around 22% of survey respondents said they have taken or plan to take a loan or withdrawal from a 401(k) or other workplace retirement savings account — just so they can pay their living expenses like their mortgage, rent, or food during the pandemic. For people considering doing the same, it’s important to remember a couple of things! One, the CARES Act doesn’t actually mandate that a workplace retirement plan has to allow hardship withdrawals for those impacted by COVID-19. It is up to each individual plan administrator whether or not they will allow withdrawals. Two, the rules about who will qualify for these withdrawals if allowed by the plan are as follows: being diagnosed with COVID-19, having a spouse
or dependent diagnosed with COVID-19, or experiencing a layoff, furlough, reduction in hours, inability to work due to COVID-19, or lack of child care because of COVID-19. Keep in mind that even though there is no 10% IRS penalty for withdrawals from workplace retirement plans, income taxes will still be due on the money withdrawn, which can be paid to the IRS over a period of three years if needed. The withdrawn money can also be returned to the plan over three years with no taxes! Experts remind people that those taking withdrawals need to follow all rules or they will have to pay income taxes on the money withdrawn and owe the 10% penalty. Retirement planning is one of our focus areas, and DuPont Wealth Solutions is here to help you as well as your family members and friends! Just give us a call at (614) 408-0004.
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EASY STUFFED SWEET POTATOES
Inspired by EatingWell.com
INGREDIENTS
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4 medium sweet potatoes 1 15-oz can black beans, drained and rinsed 2 medium tomatoes, diced
• • • •
1 tsp coriander
3/4 tsp salt
1/4 cup sour cream 1/4 cup fresh cilantro, chopped
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1 tbsp olive oil
1 tsp cumin
DIRECTIONS
1. With a fork, prick each sweet potato a few times. Microwave the potatoes on high 12–15 minutes, or until cooked through. 2. In a microwave-safe bowl, combine the beans, tomatoes, olive oil, cumin, coriander, and salt. When the potatoes are done, microwave the mixture on high for 2–3 minutes. 3. Cool potatoes slightly, then cut each potato open lengthwise. Pull the halves apart to create space to spoon the warm bean salsa inside. 4. Add a scoop of sour cream to each potato, garnish with cilantro, and serve!
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