401k

Blog

These New 401(k) Rules Make It Easier to Access Your Cash

The IRS has clarified a provision of the SECURE 2.0 Act passed in 2022, now expanding the use of tax-deferred retirement accounts as emergency funds. Previously, retirement savers with an “immediate and heavy” financial need could technically make an early withdrawal from their 401(k)s and traditional individual retirement accounts. However, that early withdrawal would be subject to income tax, and…