Regulatory Insights

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The Standard is waiving certain administrative fees and contributing to community efforts to assist those affected by COVID-19.
In early November 2018, the IRS issued proposed regulations regarding hardship distributions for 401(k) and 403(b) plans. This new guidance primarily addresses hardship distribution recommendations made in the Bipartisan Budget Act of 2018. At the same time, it addresses related questions about hardship distributions that unexpectedly arose from the Tax Cuts and Jobs Act of 2017 and recent disaster relief guidance.