With clean-up efforts still underway and billions of dollars in damage, the IRS has offered victims of Superstorm Sandy an opportunity to use their retirement accounts for emergency money to help.
According to Reuters, workers with employer-provided plans, such as 401(k) plans, 403(b) plans and 457(b) deferred compensation plans, may be able to use streamlined loan procedures, the IRS said.
Those with individual retirement accounts may not take loans, but they may be able to take hardship withdrawals.
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