Topic Archive: Hardship Distributions

401(k) Distribution Rules: After Taking a Hardship Distribution, How Quickly Must a Participant Stop 401(k) Contributions?

DWC | 05/8/18

Facts

A participant in our 401(k) plan recently took a hardship distribution. We know we are supposed to suspend his deferrals for six months following the distribution, but we are not entirely clear on how strict that timing is and what happens at the end of the six months.

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Hardship Distributions Will Soon Be Less of a Hardship

Adam C. Pozek | 02/9/18

In the wee hours of this morning, Congress passed a spending bill to end the most recent government shutdown that had just begun at midnight. Although the bill was focused on funding the government and dealt with military spending and other items, a couple of retirement-plan-related provisions managed to find their way in.

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