Guest bmurphy61 Posted November 9, 2006 Posted November 9, 2006 Is anyone aware of any legislation passed recently, either at the state or federal level, that would allow plan participants to withdraw funds to cover flood damage costs? Participant has major expenses from the June flooding here in Upstate NY which are not being covered thru insurance or FEMA. Plan document only allows for safe harbor hardship distributions. If there is such legislation does it waive the taxation and/or early withdrawal penalties?
Appleby Posted November 9, 2006 Posted November 9, 2006 Something was done for Hurricane Katrina victims. I don't recall any other provisions Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
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