Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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SECURE 2.0: Emergencies, Hardships and Disasters
Jackson Lewis P.C. [Guidance Overview] Feb. 9, 2023 "[T]he new rules allow for self-certifications as to both [1] the fact that they have a hardship; and [2] that the amount of the distribution is not in excess of the employee's financial need.... Effective for disasters after December 27, 2020, SECURE 2.0 finally makes the exception to the 10% early withdrawal tax for federally declared disasters permanent.... Additionally, employers may permit larger loans (up to a maximum of $100,000 or 100% of the vested account balance) as part of the qualified disaster distribution." |
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