Episode 19: Proposed IRS Regulations Affecting 401(k) and 403(b) Plans

Proskauer Benefits Brief: Legal Insight on Employee Benefits & Executive Compensation

In this episode of the Proskauer Benefits Brief, Paul Hamburger, co-chair of Proskauer’s Employee Benefits & Executive Compensation Group, and associate Steven Einhorn discuss the recently proposed IRS regulations addressing the hardship withdrawal rules affecting 401(k) and 403(b) plans. We will discuss challenging questions employers and administrators face as they work through the new requirements, which include the elimination of the six-month contribution suspension for participants who take a hardship withdrawal and how many plans will need to be amended as a result of these new proposed regulations. Be sure to tune in for the latest insight on this very important issue and visit Proskauer’s Employee Benefits and Executive Compensation Blog for more information.