Dealing with the effects of COVID-19 (coronavirus) on your retirement, investments, and insurance
FAQ: Investments and retirement
We're here to help with answers to questions such as, "Should I take my money out?" and "How long until the market recovers?"
FAQ: Insurance coverage
How COVID-19 applies to your insurance coverage, whether you get it as an employee or you've purchased it yourself.
Working with employers to ease access to retirement funds
Freezing or eliminating certain fees for individuals
Extended payment grace periods for employee benefits
Staying invested during volatility may pay off.
Move money into a CD
What would've happened if you’d moved your money to a CD with a guaranteed 2% return
Stay in the market
What would've happened if you kept your money invested in the market
The bottom line? Staying in the market could have meant 74% more after five years.2
Read the full story
It’s never about timing the market. It’s more about time in the market.
Read our article
If you need cash to help you get through a transition period after being affected by COVID-19, you may have options to consider.
CARES Act: The new economic stimulus package
A few key points about the new legislation
Required Minimum Distributions (RMDs) are waived in 2020.
Penalty-free withdrawals are available under certain conditions.
You can suspend loan payments for a year from a retirement plan loan under certain conditions.
$1,200 cash payment
Most Americans making less than $75,000 receive a one-time cash payment of $1,200.
Expanded unemployment insurance benefits
Unemployment insurance is expanding with a $600 per week higher benefit for up to four months.
Read the full storyWhat you need to know about the CARES Act
Learn what it means for you and your family.
1 Example for illustrative purposes. Based on S&P Index returns as of December 31, 2007 through December 31, 2008.
2 Example for illustrative purposes. Returns related to a 2 percent interest-bearing CD. Market returns based on S&P index returns as of December 31, 2008 through December 31, 2013. Past performance does not guarantee future results.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.