Safe Harbor 401k Plan
Greetings!
I have a client that participates and is fully vested in his companies Safe Harbor 401k Plan. He has a balance of $40k which is all company contributions. He has not made any elective deferral. Is he eligible to take a loan on the balance or a hardship distribution?
Thank you…..Ed
Permalink Submitted by Alan - IRA critic on Fri, 2016-02-26 19:17
Loans and hardship distributions are features that any specific plan may include or not include. Client needs to ask the plan administrator.