SMB Posted March 10, 2009 Posted March 10, 2009 With so much going on during this "economic downturn", I admit I have not been able to stay "current" with the all of the goings on coming out of Washington. Does anyone know if there has been any "waiver" (authorized or proposed) of the 10% pre-mature distribution penalty on cash distributions to participants (under age 55) who have been terminated due to an employer's "downturn in business"? What about a "hardship withdrawal" to prevent foreclosure on a mortgage? Thanks!
Guest Dan Shea Posted March 11, 2009 Posted March 11, 2009 I had heard (not sure where or when) that some consideration was being given to exempting the first $10,000.00 from penalty under these type circumstances. I was looking here myself to see if there was any news/truth to the foregoing!
Appleby Posted March 14, 2009 Posted March 14, 2009 Neither have I...the benefitslink newsletter would have included that information for sure Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now