PlanAdviser: Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes
Author: Siân Killingsworth / 6 Feb 2019
New rules established by Congress and the IRS simplify the process for participants to request a hardship withdrawal of DC plan assets; some experts say this could increase “leakage,” while others anticipate more positive effects, such as lower debt among cash-strapped participants.
Ubiquity Retirement + Savings CEO Chad Parks explains how he believes the new IRS hardship withdrawal rule will help 401(k) participants come out ahead.
