mjf06241972 Posted August 26, 2019 Posted August 26, 2019 Can a hardship distribution be take from safe harbor source?
ratherbereading Posted August 26, 2019 Posted August 26, 2019 Yes, that provision was added with the Bipartisan Budget Act; however, you don't need to allow it. Our TPA has chosen not to allow our clients to use Safe Harbor $$ toward hardships. Here's some reading on it: https://www.asppa-net.org/news/irs-issues-new-guidance-hardship-distributions 4 out of 3 people struggle with math
rr_sphr Posted August 27, 2019 Posted August 27, 2019 agree that it depends on whether the sponsor has chosen to amend their plan. We also do not plan to allow it.
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