McClatchy 401(k) Plan Changes
We have updated our 401(k) plan to provide financial assistance to colleagues impacted by Coronavirus. The changes include relief for colleagues currently repaying 401(k) loans and a new option to withdraw funds from your 401(k) due to Coronavirus.
Participant self-certification of eligibility is required for these distributions. At a later date, you may be required by the IRS to offer proof that you were impacted by COVID-19.
If you want to take action, contact Vanguard Participant Services at 800-523-1188. Associates are available to take your calls Monday through Friday from 8:30 a.m. to 9 p.m., Eastern time, but wait times may be longer because of high call volumes.
*Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, you are an affected individual if you: (1) are diagnosed with COVID-19 by a CDC-approved test, (2) have a spouse or dependent who was diagnosed by a CDC-approved test, or (3) experience adverse financial consequences due to quarantine; layoff, furlough, or reduced hours; inability to work because of lack of child care; closure or reduced hours of a business owned by the individual due to the virus; or other reasons identified by Treasury. Plan administrators can rely on participant self-certification of eligibility. At a later date, you may be required to offer proof that you were impacted.