One of the other new rules allows for the hardship to be suffered by you OR your spouse. Previously, it was only on an individual basis. So if your partner has been out of work but had very little retirement savings to fall back on, you can now use your own accounts to keep you both afloat.
However, some of the rules still apply. You still have to repay the money within three years. Otherwise, you’ll be on the hook for income taxes. And as we stated in the opening paragraph, you’ll also be missing out on any gains your invested money would have been making. Taking money from your retirement account early is always a tricky decision. There’s a lot to consider. But these are unprecedented times, so at least you can breathe a little easier if you do decide to tap into your savings right now.