With so much going on during this "economic downturn", I admit I have not been able to stay "current" with the all of the goings on coming out of Washington.

Does anyone know if there has been any "waiver" (authorized or proposed) of the 10% pre-mature distribution penalty on cash distributions to participants (under age 55) who have been terminated due to an employer's "downturn in business"?

What about a "hardship withdrawal" to prevent foreclosure on a mortgage?

Thanks!

I had heard (not sure where or when) that some consideration was being given to exempting the first $10,000.00 from penalty under these type circumstances. I was looking here myself to see if there was any news/truth to the foregoing!

I've heard nothing about it.

Neither have I...the benefitslink newsletter would have included that information for sure