Understanding Treasury's New Hardship Distribution Rules

By Jorge Leon, Julia Mader and Jason Faust (November 30, 2018, 3:33 PM EST) -- The Bipartisan Budget Act of 2018,[1] signed into law on Feb. 9, included a few provisions affecting qualified retirement plans. Among the budget act's changes were provisions modifying the rules pertaining to hardship distributions. Prior to the budget act, the hardship rules' requirements were intended to encourage participants to consider the seriousness of their hardship needs. The budget act has greatly reduced this consideration and simplified plan administration....

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