On November 14, 2018, the Internal Revenue Service (“IRS”) released Proposed Regulations to implement and expand upon the changes to 401(k) hardship distribution rules, previously mandated by the Bipartisan Budget Act of 2018...more
The U.S. Department of the Treasury has issued new proposed regulations that provide more flexibility for 401(k) and 403(b) plan participants to access their retirement accounts in the event of a financial hardship, as...more
The Bipartisan Budget Act of 2018 (“Budget Act”) includes several changes to the rules governing hardship withdrawals from 401(k) plans. Because the changes apply to plan years beginning after December 31, 2018, 401(k) plan...more