You are: individual
How is SECURE 2.0 relevant to you?
Select one of the options below to learn more.
- Eligibility: participant must have sustained an economic loss, and their primary residence must have been in the disaster area.
- Max distribution: $22,000 per disaster aggregated across all employer-sponsored and individual retirement plans.
- Max loan: the lesser of $100,000 or 100% of the vested account balance. Plans can also suspend loan repayments for up to one year (requires loan extension).
- Timeframe: QDRD must be made within 179 days after the later of:
- the first day of the incident period or
- the date of the disaster declaration (for disasters occurring between January 26, 2021, and December 29, 2022, the deadline is June 27, 2023)
Are you concerned about out-of-pocket expenses after a natural disaster?
- Eligibility: participants must present plan sponsors with a physician certification (sufficient evidence) that the employee has an illness or physical condition reasonably expected to result in death within 84 months.
- Max distribution: up to 100% of vested account balance
- Timeframe: none