Emergency Withdrawals

Emergency savings accounts linked to individual account plans

Provides employers the option to offer their non-highly compensated employees plan-linked emergency savings accounts. Employers may automatically opt employees into these accounts at no more than 3% of their salary, and the portion of an account attributable to the...

Retirement Emergency Expenses Withdrawals

Participants may withdraw up to $1,000 within a year from their retirement account to pay for an emergency without penalty. The full distribution amount must be repaid within 3 years, and no further emergency distributions are permissible until repaid.