Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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Hardship Distributions for Participants May Now Be a Hardship for Plan Sponsors
Bloomberg BNA [Guidance Overview] June 1, 2015
"Even though the [April 2, 2015 issue of Retirement News for Employers] constitutes informal guidance and does not have the effect of a regulation or IRS Notice ... it clearly shows how the IRS will act when auditing qualified plans.... [P]lan sponsors will have to take much more of a hands-on role when it comes to hardship distributions -- making sure that the TPA receives sufficient documentation of the existence of a hardship event (which may mean subjecting HR to very private and sensitive personal information as well as making them appear more adverse than desired) and making sure to retain such documentation."
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