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What are the rules regarding hardship withdrawals from my 401k?

April 26, 2017hardship rules withdrawals

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What are the rules regarding hardship withdrawals from my 401k?

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Hardship withdrawals are allowed by law but your employer is not required to provide this option in your plan. The cost of administering such a program can be prohibitive for many small companies. Your summary plan description (SPD) will state whether or not your employer allows withdrawals in your plan.