Workers affected by the pandemic continued to withdraw money from their retirement accounts in the final months of 2020. But, as happened earlier in the year, the increase in the number of people taking withdrawals was modest.from individual retirement accounts or 401-type plans by Dec. 31 without the 10% early-withdrawal penalty that generally applies under age 59½.In 2020, Fidelity Investments, the nation’s largest 401 provider, said 1.6 million people, or 6.
Fidelity and many other 401 record-keepers reported that although the number of people taking Covid-19-related withdrawals continued to grow in the final three months of 2020, and largely in line with what occurred in earlier months, even as the option to take a penalty-free withdrawal ended on Dec. 31.
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