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Legislation Would Allow 401(k) Withdrawals to Pay LTC Premiums
National Association of Plan Advisors [NAPA] 
Nov. 25, 2019 "Sen. Pat Toomey (R-PA) ... is working on a bill that would allow individuals to withdraw funds from their 401(k), 403(b), 457(b) and IRA accounts to pay for long-term care insurance without being subject to the 10% early withdrawal penalty. The draft legislation ... would also allow up to $2,000 in withdrawals annually per individual to be excluded from income tax, provided the amount is used to pay for qualified LTC insurance for the individual, their spouse or a dependent." MORE >> |
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