Hardships

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Navigating Distributions

The first quarter of the calendar year typically sees an uptick in the number of retirement plan distributions and participant loans. This year may be even busier than most, given the relief announced by the IRS for victims of the recent hurricanes and wildfires. Whatever the reason, participant distributions present a complex set of rules for Plan Sponsors to navigate.

2018-02-01T15:24:35-05:00February 1st, 2018|Categories: Newsletters/Bulletins|Tags: , , , , , |Comments Off on Navigating Distributions

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.

2018-02-01T15:13:06-05:00September 18th, 2017|Categories: Newsletters/Bulletins|Tags: , , , , , |Comments Off on What to know about Plan Hardship Withdrawal Rules