Recent IRS 401(k) Phone Forum Results

May 17, 2013 at 6:10 pm Leave a comment

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The IRS recently held a phone forum regarding the results of their 401(k) plan questionnaire.  The forum information is located on their website at http://www.irs.gov/pub/irs-tege/401k_final_report_phoneforum_presentation.pdf.  A couple of interesting items to share where the indication that the results indicated that hardship distributions and loans may require review by the agency.  There were some concerns that both were being done properly.  One of the presenters openly noted concern regarding plan participants self-certifying hardship distributions without the plan administrator obtaining appropriate substantiating records.

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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