Regulatory Insights

IRS Issues Proposed Regulations for Hardship Distributions

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.
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The Standard is the marketing name for StanCorp Financial Group, Inc., and its subsidiaries. StanCorp Equities, Inc., member FINRA, wholesales a group annuity contract issued by Standard Insurance Company and a mutual fund trust platform for retirement plans. Standard Retirement Services, Inc. provides financial recordkeeping and plan administrative services. Investment advisory services are provided by StanCorp Investment Advisers, Inc., a registered investment advisor. StanCorp Equities, Inc., Standard Insurance Company, Standard Retirement Services, Inc., and StanCorp Investment Advisers, Inc., are subsidiaries of StanCorp Financial Group, Inc., and all are Oregon corporations.

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