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Bill Would Allow Vets To Draw From Retirement Accounts Without Penalty

Last updated on Thursday, March 29, 2012

(WASHINGTON) - U.S. Rep. Todd Young, R-Ind., today introduced a bill that would allow recently discharged veterans who are unemployed to draw from their individual retirement accounts without penalty.

House Resolution 4279, the Veterans Self Relief Act, resulted from a meeting Young had with a recently discharged veteran from Dubois County.

"As more and more of our young men and women return from overseas to a shaky economy, they are finding it hard to make ends meet," Young said in a press release. "Because of the sacrifices they have made in defense of this country - sacrifices like putting off a career or delaying educational opportunities - they might find it a little tougher to make ends meet as they transition to civilian life.

"This bill would recognize those sacrifices by allowing them to withdraw funds from their pension plans while they are searching for a job."

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