Tag: Plan Documents

Sponsors Need To Plug Leaks for Loans, Withdrawals

Rules barring participants from making 401(k) contributions for six months after taking a hardship withdrawal should be eased to help employees more quickly recover a more substantial retirement nest egg by resuming savings more quickly, a new government report suggests.

Common Law Spouse Wins Right to Plan Distributions

Once two 401(k) plan administrators learned a dead participant’s common-law spouse was legally validating her marital status, the plans should have postponed distribution of the participant’s balance until the issue was settled, a federal appellate court has ruled.