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401(k) Beyond the Basics 13: Distribution Restrictions, Hardships
Presentor: Derrin Watson Recorded Date: 2/6/2017 Duration: 60 Min.

Description
This program was recorded during a live presentation given on February 6, 2017 at 12:00PM EST.
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Do you already know the basics of 401(k) plans, and want to move on to the nitty gritty? There are so many rules, that it is impossible even for a very experienced practitioner to remember them all. Each installment in this series will present a one-hour focused look at a single topic affecting 401(k) plans and provide the information practitioners need to know to be sure they are fully assisting the companies and participants they serve. You can brush up on a single topic, or view the whole set, either as a live seminar, where you can ask questions, or as an archived presentation on your own schedule. Our standard pricing has been discounted to make attendance to all sessions in this series more cost effective. The series will cover the following:

401(k) Plans: Beyond the Basics Web Series

  • 401(k) BB 01: IRS and DOL Correction Programs:More than Alphabet Soup
  • 401(k) BB 02: Plan Document Requirements and Deadlines
  • 401(k) BB 03: Eligibility and Vesting Design Considerations
  • 401(k) BB 04: HCEs and Compensation
  • 401(k) BB 05: Coverage Testing Issues
  • 401(k) BB 06: The Average Benefit Test
  • 401(k) BB 07: Elective Deferral Options
  • 401(k) BB 08: ADP Testing Techniques
  • 401(k) BB 09: ACP Testing Techniques
  • 401(k) BB 10: After-tax Contributions: The Other White Meat
  • 401(k) BB 11: Safe Harbor 401(k) Plan Design
  • 401(k) BB 12: Safe Harbor 401(k) Plan Operation
  • 401(k) BB 13: Distribution Restrictions & Hardships
  • 401(k) BB 14: Participant Loans: The Fine Print
  • 401(k) BB 15: All About Roth

401(k) Beyond the Basics 13: Distribution Restrictions and Hardships

One of the hallmarks of elective deferrals is distribution restrictions that severely restrict the ability of the plan to make in-service distributions of elective deferrals. This presentation will focus on the distribution alternatives which are available, and take an in depth look at hardship distributions. Topics include:

  • Distributable events
  • Military distribution options
    • HEART mandates and options
  • Termination restrictions
  • 59 ½ distribution
  • Distribution options for match and nonelective
  • Hardship distributions
    • Financial need
      • Disaster situations
    • Necessity
      • Safe harbor
      • Outside safe harbor
    • Documentation
    • Correction
Prerequisites:

There are no prerequisites or other advanced preparation for this program. The instructor will assume attendees have a general familiarity with the qualified plan requirements, and a minimum of two years of experience in dealing with qualified plans.

Level: Intermediate

Instructional Delivery Method: Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After the program, attendees should be able to:

  • List permissible distribution events
  • Assist an employer on plan design of distribution options
  • Determine if hardship distributions are available in a variety of situations
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