SECURE 2.0 challenges, part 7: Distributions on account of emergencies and domestic abuse
Beginning Jan. 1, 2024, SECURE 2.0 allows employees facing personal emergencies or who are victims of domestic abuse to access their 401(k) plans without incurred the 10% penalty on early distributions. IRS Notice 2024-55, in question-and-answer form, provides some guidance on these two provisions.
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