Many employer-sponsored retirement accounts offered its plan participants under financial turmoil access to their 401(k) or 403(b) retirement funds through a process known as a hardship withdrawal. Historically, the need has been determined based on all relevant facts and circumstances. However, on September 23rd, just 10 months after releasing proposed regulations, the IRS released its final hardship distribution regulations making retirement plan assets more accessible to those experiencing financial hardship. We explore these changes and what they mean for plan sponsors and their participants.
The PLANADVISER Top 100 Retirement Plan Advisers is an annual listing of adviser individuals and teams that stand out in the industry in terms of a series of quantitative measures. These include the dollar value of qualified plan assets under administration (AUA), as well as the number of plans under advisement.