Previous regulations on hardship distributions from 401(k) and 403(b) plans generally provided that a participant could receive an in-service distribution prior to reaching age 59½ if the participant had an immediate and heavy financial need.  The determination of whether a participant had an immediate and heavy financial need was determined based on all relevant facts and circumstances.  However, to simplify administration, the regulations provided for safe-harbor hardship withdrawals that were deemed to be an immediate…