It is Up to Plan Sponsors to Track Loans, Hardship Distributions

It is Up to Plan Sponsors to Track Loans, Hardship Distributions

Even though you work with a party that is third (TPA) to take care of participant transactions, you’re still ultimately in charge of the correct management of the your retirement plan. Make certain you’re maintaining up with all the recordkeeping requirements.

Hardship Distributions

  1. Conventional Substantiation Method>

Arrange sponsors should obtain and keep distribution that is hardship. Failing woefully to have these records readily available for examination is really a certification failure which should be corrected utilising the Employee Plans Compliance Resolution System (EPCRS). Continue reading “It is Up to Plan Sponsors to Track Loans, Hardship Distributions”