401k Distributions

/Tag: 401k Distributions

Hardships Get a Little Easier

Earlier this year, the Bipartisan Budget Act of 2018 was passed by Congress and signed into law. While this law made several changes that impact retirement plans, one provision changing the rules around hardship distributions is particularly notable.

2018-11-12T12:03:47+00:00November 12th, 2018|Categories: Newsletters/Bulletins|Tags: , , , , , , |Comments Off on Hardships Get a Little Easier

What to know about Plan Hardship Withdrawal Rules

Times can get tough for people. With the onset of Hurricane Harvey having decimated parts of the Gulf Coast and Hurricane Irma following its destructive lead, we are reminded that at any point we may find ourselves in hardship. Companies make layoffs, natural disasters occur, emergencies… well, emerge. With nowhere else to turn, some will look to their 401k for their own disaster relief. A withdrawal in the form of a "hardship distribution" is one of the tools that participants may use in this situation.

2018-02-01T15:13:06+00:00September 18th, 2017|Categories: Newsletters/Bulletins|Tags: , , , , , |Comments Off on What to know about Plan Hardship Withdrawal Rules