IRS Updates Rules on Retirement Plan Hardship Distributions

1 min

On November 1, 2019, Lisa Tavares and Gregory Matisoff published “IRS Updates Rules on Retirement Plan Hardship Distributions” in Employee Benefit News. The following is an excerpt:

Employers who allow for hardship distributions from their 401(k) or 403(b) plans should be aware that the Internal Revenue Service recently finalized updates to the hardship distribution regulations to reflect legislative changes. The new rules make the hardship distribution requirements more flexible and participant-friendly.