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By Lisa Tavares, Gregory Matisoff
Employers who allow for hardship distributions from their 401(k) or 403(b) plans should be aware that the Internal Revenue Service recently finalized updates to the hardship distribution regulations to reflect legislative changes. The new rules make the hardship distribution requirements more flexible and participant-friendly.
Lisa Tavares is co-chair of the Business Division and a partner in the Tax and Wealth Planning Practice at Venable LLP.
Gregory Matisoff is an associate in Venable’s employee benefits and executive compensation group.
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