The new $900 billion Covid relief package is the fifth major federal law enacted in response to the COVID pandemic and economic crisis, and the first since April. Apart from funding the new relief, Congress sensibly expanded on previous aid legislation by targeting individuals, families, and small businesses hit hardest financially.

A major change in the new aid package allows withdrawal of up to $100,000 from your retirement plan penalty-free, even if you’re less than age 59½. Normally, a 10% federal tax penalty is assessed on distributions from a qualified retirement plan if you’re younger than 59½, but the penalty is waived in 2021.