Overseers of federal employees’ 401(k)-style retirement savings plan have already started receiving requests from participants hoping to tap their savings to help recover from Hurricane Harvey.
On Friday afternoon, the Thrift Savings Plan announced a temporary change in the rules for making “financial hardship” withdrawals, which give employees with certain medical, legal or property expenses early access to money in their retirement accounts. The recent changes make government workers who suffered losses from Hurricane Harvey eligible for such withdrawals.
