Harvey-IRMA Relief
Senator Cruz TX- Co Sponsor of new legislation was interviewed on Radio Show stating that “IRAs would enjoy the same penalty free early distribution as 401-Ks” if the distribution was in a Harvey/IRMA affected area and met the appropriate requirements. But the way I read the rule is that it states Qualified Plans and hardship no mention of IRA’s. Can you clarify your understanding of this? Will IRA’s also be penalty free for 2017 for this specific purpose?
Permalink Submitted by Alan - IRA critic on Fri, 2017-10-06 04:15
There is a wide variety of relief provisions and IRAs are included: https://www2.ascensus.com/news/industry-regulatory-news/2017/10/05/washington-pulse-hurricane-legislation-grants-retirement-plan-relief/