A 401(k) plan is a powerful tool for retirement savings, offering tax advantages and employer contributions. However, life’s financial demands may tempt you to consider withdrawing money from your 401(k) accounts. Hardship distributions may be available for certain immediate and significant financial needs, subject to your employer’s retirement plan provisions and applicable IRS rules. Please note that, according to the IRS, you are limited to a hardship distribution in the amount necessary to satisfy that financial need. Read more.