In the wake of Tropical Storm Debby, the IRS has announced tax relief for affected states and many retirement plan participants are seeking emergency distributions or loans.
Corporate & Business Partner Allie Itami tells Plan Distribution that the SECURE 2.0 Act has simplified the process of obtaining these distributions, as they can now be linked to FEMA declarations. This means participants may more easily access their retirement funds to cover disaster-related expenses.
Read more here: Plan Distribution Options Can Help Participants Recover From Disasters Like Debby