Tag Archives: Hardship Distributions

Hardship Distributions – IRS Guidelines

Posted on May 7, 2013 by admin

According to the IRS website, a retirement plan may, but is not required to, provide for hardship distributions. If a 401(k) plan provides for hardship distributions, it must provide the specific Continue reading

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Footnote Disclosures

Posted on February 8, 2011 by admin

Another year end has passed and now you are probably compiling and sending the 401(k) files to your third party administrator for them to complete their compliance testing, and other plan Continue reading

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Distribution Information to Pass Along to your Employees – Tax Penalties for Early Distribution of Retirement Funds

Posted on October 14, 2010 by admin

In these tough economic times, many people are looking at ways to make ends meet. One option your employee may be looking into is a distribution out of their 401(k) plan. Continue reading

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Failure to Comply with Hardship Distribution Requirements

Posted on August 18, 2010 by admin

Plan Sponsors often fall short in one simple area of plan administration: record keeping. It is important that Plan Sponsors keep proper documentation for each area of the Plan.  One important Continue reading

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Hardship Distributions Requirements

Posted on July 6, 2010 by admin

If your plan allows for hardship distributions, as a Plan sponsor you are required to verify that proper evidence has been obtained which verifies the participant has immediate and necessary need Continue reading

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Hardship Distributions

Posted on September 1, 2009 by admin

Some plans allow for hardship distributions for certain financial hardships. In these current economic times there has been an increase in the number of hardship distributions taken from qualified retirement plans. Continue reading

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Required Federal Income Tax Withholdings from 401k Distributions

Posted on August 4, 2009 by admin

The IRS has various rules related to income tax withholding from 401k distributions. The most common rule is the minimum 20% that is required to be withheld from eligible rollover distributions. Continue reading

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Finding information on employee benefit plans can be difficult and time consuming. As a service to our clients, and other interested parties who are involved in or in need of employee benefit services, we'll gather all of the information for you. We'll keep you up-to-date on the latest laws and regulations and we will even add our own personal insight into what else is occurring in the employee benefits world. We will provide these posts weekly and hope to get your input and feedback on the various topics. We will also share that feedback with others, as we find appropriate.

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