Amount available for hardship

[Guest kac1214]

Is vested employer money available for hardship withdrawal (provided no limitations in document)? Thanks

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[Larry M]

consider, instead, amending plan to allow in service distributions - much simpler than the process required for hardship withdrawals.

[LCARUSI]

I agree with Larry that you should have a non-hardship withdrawal provision to deal with withdrawal of vested company money. The hardship withdrawal provision (and all its rules and procedures relating to 401(k) contributions) should be limited to 401(k) contributions.

That having been said, you cannot allow unlimited access to vested company money - either matching or nonelective. Take a look at rev ruling 68-24, 74-55 and 74-56.