Plan sponsors jump to meet changes over withdrawals

A recent article by Pensions & Investments featuring Francis Investment Counsel’s Mike Francis discussed IRS regulations that will make it easier for plan participants to take hardship withdrawals from their retirement accounts. Most notably, employees will be able to continue contributions to their accounts, as opposed to previous rules that enforced a six month suspension following a hardship distribution.

Read on to learn how plans sponsors and their recordkeepers are moving to satisfy the new regulations prior to 2020.

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