Hardship Withdrawal Rules Conformity
SECURE 2.0 Act Section 602 conforms the 403(b) hardship rules to the 401(k) hardship rules. Effective for plan years after 2023.
The following amounts may be distributed upon hardship of the employee:
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Contributions made pursuant to a salary reduction agreement (within the meaning of section 3121(a)(5)(D)).
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Qualified nonelective contributions (as defined in section 401(m)(4)(C)).
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Qualified matching contributions described in section 401(k)(3)(D)(ii)(I).
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Earnings on any contributions