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No Need for Documentation of Reasons for a Hardship Distribution?
BenefitsLink Message BoardsLink to more items from this source
July 15, 2021

"Client has a participant who is requesting a hardship in a plan that's with one of the large national 401k vendors. Client called the vendor. (We're the TPA.) Backup documentation comes up during the conversation. Vendor tells the client that 'unless the TPA needs the backup documentation then it isn't necessary anymore to get such documentation on hardships from the participant.' Is that correct?"

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