someone who would have started post - bankruptcy life with some retirement savings to begin instead with a tax debt that could have been avoidedcan causesomeone who would have started post - bankruptcy life with some retirement savings to begin instead with a tax debt that could have been avoided

Hardships for Plan SponsorsCreateHardships for Plan Sponsors

specifically for individuals who are currently employedare designedspecifically for individuals who are currently employed

contribution suspension requirements(passive) triggered bycontribution suspension requirements

payment of ordinary federal income tax of as much as 35 percentwill triggerpayment of ordinary federal income tax of as much as 35 percent

forth in the plan documentsetforth in the plan document

in a smaller , perhaps much smaller , nest egg at retirementcan resultin a smaller , perhaps much smaller , nest egg at retirement

more people to use their retirement savings before retirementwill leadmore people to use their retirement savings before retirement

in participants paying more in income taxeswill ... resultin participants paying more in income taxes

your total hours for the term to be reducedcausingyour total hours for the term to be reduced

from losses suffered during the hurricaneresultingfrom losses suffered during the hurricane

even bigger problemscauseeven bigger problems

in getting SOME of the tuition refunded , or a standard withdrawal from classes , which has implications due to his not completing at least 50 % of a full course load with satisfactory progresswill resultin getting SOME of the tuition refunded , or a standard withdrawal from classes , which has implications due to his not completing at least 50 % of a full course load with satisfactory progress

an early withdrawal penalty ... although that is situation - specificmay ... triggeran early withdrawal penalty ... although that is situation - specific

in permanent loss of … View Doc I would be surprised if there were many readers whose only personal 401k , IRA pumped into it all of the money you personally have , taking mortgages out on your home , cashing incan resultin permanent loss of … View Doc I would be surprised if there were many readers whose only personal 401k , IRA pumped into it all of the money you personally have , taking mortgages out on your home , cashing in

contribution suspension rules(passive) are triggered bycontribution suspension rules

6-Month Suspension Current Law Employee contributionsResulting6-Month Suspension Current Law Employee contributions

eviction from the employee ’s principal residence or foreclosure on the mortgage on that residenceto preventeviction from the employee ’s principal residence or foreclosure on the mortgage on that residence

the damage(passive) caused bythe damage

permanent leakagecausingpermanent leakage

to the Fund ’s 403(bto contributeto the Fund ’s 403(b

eviction or losing their home to foreclosureto preventeviction or losing their home to foreclosure

in a grade changeresultsin a grade change

a " triple whammycreatesa " triple whammy

in a twelve - month suspension of pre - tax and after - tax contributions to the Planwill generally resultin a twelve - month suspension of pre - tax and after - tax contributions to the Plan

from the Most Vanguard retirement plansresultingfrom the Most Vanguard retirement plans

for AmericansDesignedfor Americans

to $ 9 billion in leakage , and job change cashouts led to $ 74 billion in withdrawalsledto $ 9 billion in leakage , and job change cashouts led to $ 74 billion in withdrawals

unnecessary delaycan causeunnecessary delay

from the Bipartisan Budget Act of 2018resultingfrom the Bipartisan Budget Act of 2018

a high bar for these types of distributionsseta high bar for these types of distributions