Puerto Rico Treasury Department Issues Additional Guidance on Eligible Distributions to Participants Affected by Hurricane Maria

The Puerto Rico Treasury Department (“PR Treasury”) has issued Administrative Determination No. 18-02 to clarify certain provisions of the previously issued Administrative Determination No. 17-29 which granted relief on eligible distributions (including, hardship withdrawals) to participants in Puerto Rico tax qualified retirement plans who were affected by Hurricane Maria.  For a summary of the guidance in AD 17-29, see our Groom Brief (available here).