Posts Tagged ‘retirement plan hardship withdrawal’

What Are The Rules For Taking A Distribution from My 401(k) Plan?

Monday, August 12th, 2013

So maybe you’ve been storing up money in your 401(k) plan for years, possibly even decades. Or maybe you’ve just started paying into your 401(k), and have a little bit of money in your account. You suddenly find yourself in a situation where you need money… and you need it now. What do you do? (more…)

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Will I Be Penalized for a Hardship 401K Withdrawal?

Monday, October 17th, 2011

A reader asked: I wanted to do a hardship with my 401k and was wondering if would be penalized 10 percent of the balance? I borrowed from my 401k and haven’t paid all of it back yet. Will I be able to do a hardship with remaining balance left? (more…)

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How Can Raiding Their 401(k) Hurt Employees?

Monday, September 13th, 2010

Fidelity Investments recently announced that the number of workers borrowing against their retirement accounts has reached a 10-year high. Given the financial stress that many workers face today, the numbers are not that surprising, but the long-term consequences can be. (more…)

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