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Data: Kiplinger; Chart: Axios Visuals

Nearly 60% of Americans withdrew or borrowed money from their IRA or 401(k) during the coronavirus pandemic, a new survey from Kiplinger and digital wealth management company Personal Capital found.

Why it matters: Most U.S. retirement accounts were underfunded already and the survey shows that the pandemic caused a significant number of Americans to pull money out, potentially setting them back even further.

Details: Nearly one in three (32%) respondents said they withdrew $75,000 or more from a retirement account, while 58% of those who took loans borrowed between $50,000 and $100,000.

  • Pandemic-induced market volatility also left nearly three-quarters of respondents (74%) somewhat to very worried about their investments.
  • More than 50% of respondents said they planned to work longer or delay retirement in order to build their nest egg.

The big picture: "The past year rocked the confidence of most Americans saving for retirement,” Mark Solheim, editor of Kiplinger Personal Finance, said in a release.

  • “With many people dipping into their retirement savings or planning to work longer, 2020 will have a lasting impact for years to come.”

Backstory: Even most older Americans report that they don't have enough money saved for retirement, with the median family holding just $7,800 in 401(k)s, IRAs and other self-directed accounts, according to a 2019 study from the left-leaning Economic Policy Institute.

Of note: The CARES Act allowed people under the age of 59.5 affected by the coronavirus to take a distribution of up to $100,000 from an IRA, 401(k), or similar account without penalty. It also permitted loans of up to $100,000.

Go deeper

Caitlin Owens, author of Vitals
Jan 22, 2021 - Health

The most vulnerable Americans aren't getting enough vaccine information

Data: KFF; Chart: Axios Visuals

Hispanic, Black and lower-income Americans are more likely than white and higher-income Americans to say they don't have enough information about when or where they'll be able to get a coronavirus vaccine, according to new KFF polling.

Why it matters: This further suggests that vaccinating the most vulnerable Americans will be an uphill battle.

House members and staff will be allowed to bring visitors into Capitol again

The U.S. Capitol on Saturday. Photo: Daniel Slim/AFP via Getty Images

Members of the House and their staff will be able to escort certain visitors into the Capitol starting Wednesday.

Why it matters: The House is slowly starting to reopen after more than a year of pandemic restrictions. The Senate already allows official visits, with a staff escort.

Updated 56 mins ago - Politics & Policy

Jury in Derek Chauvin trial heads into deliberation

The jury of Derek Chauvin's trial has gone into deliberation Monday. The judge told instructed them to "reach a just verdict regardless of what the consequence might be."

Why it matters: The jury's verdict in Chauvin's murder trial is seen by advocates as one of the most crucial civil rights cases in decades.