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Retirement Planning
Chapter 5: Profit-Sharing Plans/HARDSHIP DISTRIBUTIONS
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 5: Profit-Sharing Plans

HARDSHIP DISTRIBUTIONS

01.Core Concepts

• Hardship Distributions (from deferrals, QNECs, QMCs and earnings) • Distribution for immediate and extreme financial need:  Medical expenses  Funeral expenses  Purchase of principal residence  Education  Eviction  Casualty loss or disaster • No other sources of funds are available • Subject to income tax and early withdrawal penalties • Unless a penalty exception applies