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IRS and Other Agencies Provide Pension Relief in the Wake of Hurricane Harvey

September 1, 2017

This week, the IRS, the DOL, and the PBGC all released helpful guidance intended to assist the many persons and organizations affected by Hurricane Harvey. For example, IRS Announcement 2017-11 (Aug. 30, 2017) provides liberal rules for loans and hardship distributions from tax-favored employer plans to taxpayers affected by Hurricane Harvey. This guidance generally mirrors helpful disaster guidance issued by the IRS in the past, most recently with Hurricane Matthew. We summarize the new guidance in the attached memo.