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Retirement Plan Disaster Relief Under SECURE 2.0
Legacy Retirement Solutions 
[Guidance Overview] Nov. 6, 2024 "SECURE 2.0 grants retirement plan sponsors the discretion to allow plan participants greater access to their retirement plan savings in the event of a federally recognized disaster.... A plan sponsor has the discretion to allow qualified individuals to receive 'qualified disaster recovery distributions' of up to $22,000 per disaster. Further, any such distribution is exempt from the 10% early distribution penalty tax that often applies to retirement plan distributions if the recipient is under age 59-1/2." MORE >> |
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