Committee adopts amendment to deferred compensation plan to allow disaster distributions under SECURE 2
The committee approved an amendment to the city—s deferred compensation master agreement to permit special disaster-related distributions as allowed by the SECURE 2 Act; the measure exempts the 10% early-withdrawal penalty and allows up to $22,000 in distributions with a three-year repayment window.
The full story
The Finance and Personnel Committee approved a resolution to amend the city—s deferred compensation plan master agreement to allow special disaster-related distributions and loans as permitted by the SECURE 2 Act.
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