Hardship Cash Out. An unforeseeable emergency is a severe financial hardship resulting from an illness or accident of the employee, the employee’s spouse or dependents, loss of the employee’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the employee. It is “unforeseeable” if it could not be planned for or anticipated. The employee must be left with a balance of at least forty (40) hours in PTO. The employee must provide documentation that:
Hardship Cash Out. In cases of financial hardship, employees may request a 23 hardship cash payout. The employee must attest to a bona fide financial hardship, 24 provide the dollar amount of the financial hardship and documentation supporting 25 both the need for a hardship cash out and the requested dollar amount on the 26 request. Only certain hardship situations are eligible for a hardship cash out, in 27 accordance with current IRS regulation. The cash payout may not exceed the total 28 amount of the financial hardship. The amount of APL cashed out to meet the need 29 of the hardship will be determined by Human Resources. Federal and applicable 30 state taxes, 403(b) and 457(b) plan deferrals and other financial factors will affect 31 the total number of hours cashed out. Losing APL hours due to reaching the APL 32 accrual limit is not a bona fide financial hardship.
