Emergency Withdrawals. Participants in defined contribution plans (profit sharing, 401(k), and 403(b) plans) could access their retirement savings now if plans are amended to allow coronavirus-related withdrawals....more
In a recent memorandum to employee plan auditors, the IRS prescribes missing participant search procedures for 403(b) plans (the “Memo”). Locating missing participants (and beneficiaries) often arises as an issue for 403(b)...more