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Bill Allows Feds to Withdraw Retirement Funds without Penalty

January 22, 2019

The Financial Relief for Feds Act allows federal employees who are working without pay or locked out of work without pay, as well as contractors whose sole source of income is their federal contract, to make multiple withdrawals from their retirement accounts such as Thrift Savings Plans (TSP) and IRAs without the 10% penalty that usually applies.

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