A bipartisan bill introduced last week in the Senate would allow participants in qualified workplace savings accounts and individual retirement accounts to withdraw funds penalty-free for emergencies under certain conditions.
The bill, sponsored by Sens. James Lankford, R-Okla., and Michael Bennet, D-Colo., both members of the Senate Finance Committee, would permit one emergency distribution per calendar year.
The distribution would be limited to vested amounts over $1,000, with an annual maximum withdrawal of $1,000. Individuals who took a distribution would have to repay the withdrawn amount before an additional emergency distribution from the same plan is allowed.
“Our commonsense bill provides Americans the flexibility to save for retirement now, knowing they have access to some of their money for an emergency,” Lankford said in a release.
Former Northwestern Mutual advisors join firm for independence.
Executives from LPL Financial, Cresset Partners hired for key roles.
Geopolitical tension has been managed well by the markets.
December cut is still a possiblity.
Canada, China among nations to react to president-elect's comments.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
