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Daily Archives: September 18, 2018

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New Rules for 401(k) Hardship Withdrawals

Blog, Retirement, TaxBy Editorial TeamSeptember 18, 2018

Not all plans offer hardship withdrawals, but the ones that do will be required to comply for plan years beginning in 2019. In order to take a hardship withdrawal from a 401(k) or similar plan, a plan participant must demonstrate an “immediate and heavy financial need,” as defined by the IRS. (For details, visit the…

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