A PLESA is specifically designed to provide accessible short-term savings without affecting your retirement account. Hardship withdrawals from a 401k are subject to income taxes and, for those under the age of 59½, a 10% early withdrawal penalty — and they permanently reduce your retirement savings. PLESA withdrawals carry no such penalties, and your retirement account remains intact. If your employer offers a PLESA, it’s generally a much less costly way to access funds in an emergency.
We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.
