Philip2 Posted April 1, 2020 Posted April 1, 2020 Can the new $100,000 distribution be taken from employer contributions to a custodial account? 403(b)(7)(A)(ii) prohibits hardships from the employer contributions. The CARES Act statutory language says a distribution satisfies 403(b)(7)(A)(i). But doesn't reference (ii). Probably a drafting error, but just want to be sure.
AMDG Posted April 2, 2020 Posted April 2, 2020 It's not a drafting error. Section 109(c) of the SECURE Act changed the structure of 403(b)(7)(A) completely. "The CARES Act statutory language says a distribution satisfies 403(b)(7)(A)(i)" - and it is correct.
JOH Posted April 3, 2020 Posted April 3, 2020 My understanding is that distributions associated with CARES Act is not considered a hardship.
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