Rule expands penalty-free early 401(k) withdrawals — but new use ‘might not be practical,' advisor says [CNBC]
Genworth Financial Inc (GNW)
Last genworth financial inc earnings: 10/29 05:10 pm
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Source: CNBC
The cost of long-term care — assistance with daily living activities like bathing, dressing and eating — continues to climb. While your plan may allow you to take advantage of this new rule, it's important to weigh whether taking money from your retirement savings would make sense, experts say. Halfpoint Images | Moment | Getty Images Workers may have a new way to help prepare for a largely unpredictable health-related expense during their golden years. Under a new rule now in effect, 401(k) plans are permitted to let participants take limited penalty-free withdrawals to pay for long-term care insurance , which covers the cost of assistance with daily living activities such as bathing, dressing and eating — and often is needed later in life. The new rule was included in 2022 retirement legislation known as Secure Act 2.0 , and had a delayed effective date of three years, or Dec. 29. However, it comes with limitations. Experts say it's important to consider whether using ret
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News
- 1 Retirement Expense You Can't Afford to Overlook [Yahoo! Finance]Yahoo! Finance
- Genworth Financial Schedules Earnings Conference Call for February 24Business Wire
- My mom has dementia and no power of attorney — now her $8K-a-month care is draining our savings. What can we do? [Yahoo! Finance]Yahoo! Finance
- Medicare Doesn't Cover This Key Expense -- and It's a Big One [Yahoo! Finance]Yahoo! Finance
- This 88-year-old veteran got $1.5M after losing pension, but you won't get a bailout. What to do instead [Yahoo! Finance]Yahoo! Finance
GNW
Sec Filings
- 12/4/25 - Form 4
- 12/2/25 - Form 144
- 11/25/25 - Form 4
- GNW's page on the SEC website