COVID-19 Market Insights
To help you during this uncertain time, we’ve compiled a series of articles and insights into how you can deal with this volatile market.
COVID-19 Resource Center
BOK Financial is closely monitoring developments concerning COVID-19 to determine what changes, if any, need to be implemented to our operations, processes and the systems we use to support our clients. We’d like to take this opportunity to remind you of our business continuity and preparedness plan and to assure you of our commitment always to deliver best-in-class products and solutions.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 ushered in several measures designed to help IRA and retirement plan account holders cope with financial fallout from the virus. The rules were welcome relief to many people, but left questions about the details unanswered. In late June, the IRS released Notices 2020-50 and 2020-51, which shed light on these outstanding issues.
In a downturn, your employer may look to tighten the purse strings. But that doesn’t necessarily mean you have to.
By Megan Ryan
Companies hit especially hard by the COVID-19 pandemic are taking drastic measures to stay afloat, including cost savings that can have a direct impact on employees.
One such measure: suspending the employer match on employee 401(k) retirement accounts.
The Wall Street Journal
Veronica Dagher
6 April 2020
Copyright 2020 Dow Jones & Company, Inc. All Rights Reserved.
For many adherents of the Financial Independence, Retire Early movement, known by the acronym FIRE, the economic and stock-market downturns caused by the coronavirus pandemic are the first test of their strategy.
CBS - 12 WJTV
Nexstar Media Wire
15 April 2020
Copyright 2020, CBS - 12 WJTV. All Rights Reserved. Distributed by NewsBank, Inc.
(KTXL) — It may have been that swing, that dip or that trip overseas that workers on the verge of retirement were setting their sights on.
But with most 401(k) plans taking at least a 10% hit within the last month, certified financial planner Kimberly Foss says some retirement plans may have to be delayed.
In the wake of the economic shock caused by the coronavirus pandemic, Washington recently approved a package of stimulus measures, including one that allows savers to take emergency hardship withdrawals of up to $100,000 from their retirement plans.