In light of the rapidly changing coronavirus (COVID-19) situation, Troutman Sanders and Pepper Hamilton have postponed the effective date of their previously announced merger until July 1, 2020. The new firm – Troutman Pepper – will feature 1,100+ attorneys across 23 U.S. offices. Read more.
Paul L. Porretta, a partner in the Employee Benefits and Executive Compensation Practice Group of Pepper Hamilton, was quoted in the March 23, 2020 CNBC article, "Congress May Let You Take $100,000 From Your 401(k). What You Should Know."
“You get a three-year period to pay the taxes to Uncle Sam,” said Paul Porretta, partner at Pepper Hamilton LLP in New York.
“A 401(k) plan or a 403(b) plan, even if it allows for hardship withdrawals, can require that the employee exhaust other sources of money before taking a withdrawal,” said Porretta.