The Bipartisan Budget Act of 2018, signed early on Fridaymorning after a delayed vote in the Senate forced a briefgovernment shutdown, included technical provisions that impacthardship withdrawals from retirement plans.

One provision allows defined contribution plan participants tocontinue deferring savings to plans after they have taken outhardship withdrawals.

Previously, contributions were prohibited for six months. Therevision applies to plans beginning next year.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.