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In 2018, the Treasury Department and the IRS issued new hardship distribution rules applicable to defined contribution plans, and many plans have begun administering these new rules.
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In 2018, the Treasury Department and the IRS issued new hardship
distribution rules applicable to defined contribution plans, and
many plans have begun administering these new rules. While plan
sponsors may want to wait for further IRS guidance before amending
their plans, they should take steps now to inform employees of
changes in hardship distribution administration.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
