With two hurricanes bringing much devastation and loss to the Southeast and much of Florida in the span of 14 days, responders have quickly made efforts to bring food, water and medicine to areas most in need. With this aid sure to continue in the weeks and months to come, so too will the questions of recovery for many Americans who have been affected by these disasters. We’d like to share some highlights from the Secure Act 2.0, enacted at the end of 2022, and the special rules in place for individuals to access and use retirement savings if they have been impacted by federally declared disasters.
Please see the fact sheet below for a summary of these points and provisions that may offer key financial relief for those in need as we work to repair and rebuild. If you have any questions, or if you’d like to talk through these provisions and any related implications, be sure to contact your Fiduciary Investment Advisor at American Trust Wealth.