If there’s no other place to turn to for money to get throughthe aftermath of Hurricane Harvey, those who have retirementaccounts but aren’t yet retirement age will be able to draw on whatfunds they have—although, of course, that will come with its owncost.

The IRS is cutting hurricane victims some slack, reports Accounting Today, by allowing 401(k)sand other employer-sponsored retirement plans to give loans andhardship distributions to aid them without incurring penalties.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.