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Clients Can Tap Their 401(k) After a Disaster. Here's What to Know.
Expert Opinion October 18, 2024 at 09:13 AM
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What You Need To Know
- Plan participants who live in a federal disaster area may withdraw up to $22,000 without penalty.
- The participant has the option to repay the distribution within three years.
- Retirement plans are not required to offer qualified disaster distributions.
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