Tag: retirement plan legislation

Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes

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.

Churches Urge Quick Passage of Church Plan Clarification Legislation

Chief executive officers of Church Alliance member organizations submitted letters to key Congressional leaders relating to an issue of an informal position taken by the Treasury Department and IRS, under which certain church-affiliated organizations are barred from sponsoring church retirement income account plans offered under section 403(b)(9) of the Internal Revenue Code.