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How retirees benefit from the coronavirus stimulus package
Over 80M Americans will get stimulus checks by Wednesday: Mnuchin
Treasury Secretary Steven Mnuchin on when Americans can expect to receive their stimulus checks through direct deposit this week.
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Last month, President Trump signed the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act in an effort to help Americans during the coronavirus pandemic and the ensuing economic crisis.
The stimulus package includes expanded unemployment benefits, extended financial help for small and large businesses and grant money to the hardest-hit hospitals in the country.
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But the CARES Act also offers benefits to retirees, SmartAsset reported on Monday.
Pre-retirees also have a few major benefits included in the CARES Act, according to the personal finance website. Those benefits are penalty-free early distributions, increased loan limits and suspended loan repayments.