Safe Harbor 401k Plan

Submitted by Samuel Taylor on Fri, 2016-02-26 13:35

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



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.

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